ASEAN KEY DESTINATIONS
Attendants at the conference agreed that a dependence on imported materials was influencing the prices of export products due to market fluctuations. They also noted that it could subject some export products to trade barriers from other countries.
The trade deficit hit a record US$8.16 billion in the first eight months of the year, an increase of US$3 billion over the same period of last year, according to ministry sources. Imports also rose to 18.3 per cent of total export turnover, and, without more effective measures, the ratio might exceed the 20-percent limit set by the National Assembly, the ministry said.
The nation's imports totalled $52.68 billion overall in the first eight months of the year, an increase of 24.4 per cent over the same period last year. Domestic businesses accounted for $30.3 billion of the imports – an increase of 13.2 percent – while foreign-invested firms imported $22.37 billion worth of goods, a whopping 43.6-percent increase.
Imported materials for industrial production rose dramatically, including machinery, up 14.9 per cent, textiles, up 38.1 per cent and metals, up 79.9 percent Among consumer products, imports of electronics, computers and accessories rose 31.5 per- cent and imports of clothing climbed by 26.6 percent.
Comment on this Article. Send them to firstname.lastname@example.org
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below