In the same time, country’s non-oil exports show considerable growth hitting $ 16bn, which is 21 per cent up compared to that last year. Imports in the same period hit 12.8bn, which consisted of diverse commodities and consumption goods. This makes the trade balance a positive figure, with exports enjoying $ 4bn advantage.
In the second quarter of 2016, the goods in terms of tonnage, were 41.16 million for exports which brought $ 16.3bn in foreign currency. This shows 36.37 per cent up in terms of tonnage and 21.11 per cent in terms of value. The imported goods hit 9.9 million tons of goods worth of $ 12.8bn, which shows a decline of 12.8 per cent in terms of tonnage and 7.12 per cent in value.
The petrochemical products constituted the majority of exported goods with 13.4 million tons and $ 5.7 bn worth of money, with other goods constituting 65.18 per cent. Average price of each ton of exported goods was $ 396, with each imported ton of goods being $ 1,292. Imported goods were rice worth of $ 475 million, comprising 3.7 per cent of the total value, corn worth of $ 335 million comprising 2.6 per cent of total value, soybean worth of $ 315 million comprising 2.45 per cent of total value, soy protein concentrates (SPC) worth of $ 240 million comprising 1.87 per cent of total value, and automobile spare parts (except for automobile tires) worth of $ 227 million comprising 1.77 per cent of total value.
China, UAE, South Korea, Turkey, and India had been major destinations for exports.
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