Trade surplus

According to economists, the high trade surplus is expected to have a favourable impact on the macroeconomy as it has contributed to stabilising exchange rates and regaining the confidence of businesses in markets, meaning that they will likely continue investing in production expansion. … [Read more...] about Trade surplus reaches record high of US$8.23 billion over seven months

Last month, steel companies JSW, Steel Authority of India , Tata Steel, Jindal Steel and Power - controlling over 45 percent of India's total steel production - met with government officials to ask for safeguards, according to a source who attended the meeting. … [Read more...] about India fears US-China trade war will lead to dumping of Chinese steel

Jakarta (VNA) - A Reuters poll announced on August 14 showed that Indonesia’s exports and imports may have plummeted in July, following an improvement a month prior, with global trade still reeling under the fallout from the coronavirus crisis. The growth pace of exports and imports in the resource-rich country improved in June after many countries eased coronavirus-induced restrictions, although demand was yet to return to pre-pandemic levels. The median forecast from 14 analysts for exports to fall 16.65 percent on-year in July, compared with the previous month’s 2.28 percent annual expansion - which was the first growth since February. Indonesia’s imports were estimated to plunge 22.48 percent last month, following June’s 6.36 percent drop, which economists said reflected weak domestic demand. Southeast Asia’s largest economy had likely booked a 680 million USD surplus last month, lower than the June figure of 1.27 billion USD./. … [Read more...] about Indonesia export-import revenue plummets in July

Kuala Lumpur (VNA) - Malaysia’s economy has contracted the most since the Asian financial crisis more than two decades ago, due to impacts of global trade crisis and tough measures taken to prevent the spread of the COVID-19. According data released by the country’s central bank on August 14, Malaysia’s gross domestic product shrank 17.1 percent in the second quarter compared to a year earlier, its worst showing since the fourth quarter of 1998. That compared to the median forecast of a 10.9 percent contraction in a Bloomberg survey. The restrictions, which included businesses being shut down and people confined to their homes, “resulted in demand and supply shocks,” with border control measures globally hitting tourism arrivals, the central bank added. Wan Suhaimi Saidi, an economist at Kenanga Investment Bank, warned that the trade-dependent economy was “heading into a recession since there is no sign of a full recovery in demand and business … [Read more...] about Malaysian economy shrinks most in more than two decades

Hanoi (VNA) - An international business matching webinar was held in Hanoi on August 13 in an effort to promote the export of Vietnamese longan. Deputy Minister of Industry and Trade Do Thang Hai told the online gathering that the quality of Vietnamese longan and related products, like dried longan and canned longan juice, has improved over time and are now found in major markets such as China, Australia, the US, Singapore, the Republic of Korea, Malaysia, Japan, Europe, and the Middle East. Vietnamese longan meets the requirements of importers, including those relating to origin traceability and plant quarantine, which means its quality has been recognised and can win over other demanding markets, he said. Hai views the export potential of the country’s fresh longan and related products as substantial. Localities with large areas of concentrated longan growing like Hung Yen, Son La, and Hai Duong provinces have been perfecting their production processes and developing … [Read more...] about Webinar explores longan export opportunities