Pakistan’s international trade is suffering from huge amount of deficit due to low demand for its exports. Domestic political instability also accounts for trade deficit. The trade deficit stood at $9.7 billion in FY 2007 and rose to $15 billion in FY 2008. Pakistan is a member of several international organizations such as ASEAN, ECO, SAFTA, WIPO and WTO. Steps have been taken to liberalize the trade and investment regimes of the country. Due to increasing current account deficit, the trade gap range of maximum tariffs was raised from 20%-25% to the 30%-35% on 300 luxury items by Pakistani government in the 2008-09 budget. However, the growth rate of GDP dropped to 5.8% in 2008 and public and external debt indicators worsened.
The major export earnings come from textiles. The country has not been able to expand its exports in other sections due to which it has to suffered shifts in world demand. The government continues with its efforts to diversify the country’s industrial base so as to expand its exports. However, total exports fell from $21.09 billion in 2008 to $17.87 billion 2009. The total imports also reduced from $38.19 billion in 2008 to $28.31 billion in 2009.
Pakistan Exports Commodities
The major export commodities of Pakistan are:
*
Textiles (garments, bed linen, cotton cloth, yarn)
*
Rice
*
Leather goods
*
Sports goods
*
Chemicals
*
Manufactures
*
Carpets and rugs
Pakistan Exports Partners
The following graph depicts Pakistan’s export partners with percentage share as of 2008:
Pakistan’s export partners 2008
Pakistan Imports Commodities
The major import commodities of Pakistan are:
*
Petroleum
*
Petroleum products
*
Machinery
*
Plastics
*
Transportation equipment
*
Edible oils
*
Paper and paperboard
*
Iron and steel
*
Tea
Pakistan Imports Partners
The following graph depicts Pakistan’s import partners with percentage share as of 2008:
Pakistan’s import partners 2008
Monday, 10 January 2011
Philippines Trade, Exports and Imports
Historically, the Philippines have been an important centre for commerce for centuries for its ethnic minority, namely, the Chinese who were also its first occupants. The archipelago has also been visited by Arabs and Indians for the purpose of trading in the first and early second millennium. As of 21st century, the country is member in several international trade organizations including the APEC, ASEAN and WTO. As of U.S. Department of Commerce data, in 2008, two-way U.S. merchandise trade with the Philippines stood at $17 billion.
There are significant opportunities of export promotion due to trade liberalization. However, it is important to note that the emergence of low-wage export economies and intensifying global competition are the biggest threats to the Philippines export industry. The total exports fell to $37.2 billion in 2009 from $48.2 billion 2008. The country also imported lesser goods valuing $45.8 billion in 2009 as compared to $61.14 billion 2008.
Philippines's exchange rate in Pesos/$
The Philippines Imports Commodities
The major import commodities of the Philippines are:
*
Electronic products
*
Mineral fuels
*
Machinery and transport equipment
*
Iron and steel
*
Textile fabrics
*
Grains
*
Chemicals
*
Plastic
The Philippines Imports Partners
The following graph depicts the share of various import partners of the Philippines as of 2009:
Philippines's import partners (2009)
The Philippines Exports Commodities
The major export commodities of the Philippines are:
*
Semiconductors and electronic products
*
Transport equipment
*
Garments
*
Copper products
*
Petroleum products
*
Coconut oil
*
Fruits
The Philippines Exports Partners
The following graph depicts the share of various export partners of the Philippines as of 2009:
Philippines Export partners 2009
There are significant opportunities of export promotion due to trade liberalization. However, it is important to note that the emergence of low-wage export economies and intensifying global competition are the biggest threats to the Philippines export industry. The total exports fell to $37.2 billion in 2009 from $48.2 billion 2008. The country also imported lesser goods valuing $45.8 billion in 2009 as compared to $61.14 billion 2008.
Philippines's exchange rate in Pesos/$
The Philippines Imports Commodities
The major import commodities of the Philippines are:
*
Electronic products
*
Mineral fuels
*
Machinery and transport equipment
*
Iron and steel
*
Textile fabrics
*
Grains
*
Chemicals
*
Plastic
The Philippines Imports Partners
The following graph depicts the share of various import partners of the Philippines as of 2009:
Philippines's import partners (2009)
The Philippines Exports Commodities
The major export commodities of the Philippines are:
*
Semiconductors and electronic products
*
Transport equipment
*
Garments
*
Copper products
*
Petroleum products
*
Coconut oil
*
Fruits
The Philippines Exports Partners
The following graph depicts the share of various export partners of the Philippines as of 2009:
Philippines Export partners 2009
NAFTA - North American Free Trade Agreement, NAFTA Trade, NAFTA Import, NAFTA export
The NAFTA was framed on January, 1994. The three countries, namely, Mexico, Canada and the United States of America entered into the NAFTA or the North American Free Trade Agreement to form the biggest free trade zone in the world. NAFTA or North American Free Trade Agreement, has propelled growth in the economy of the three member nations since the year 1994. NAFTA has also led to the increase in the standards of living of the people of its member nations.
Implementing NAFTA has ensured removal of several obstacles with regard to investment and trade in the Canada, Mexico and United States of America.
Effects of implementing the NAFTA:
Agriculture sector:
# Non tariff obstacles pertaining to trade in agriculture between Mexico and United States of America were dissolved. In addition to this, there were other tariffs, which faced removal soon after its implementation.
# It has also been anticipated that majority of the agricultural provisions are likely to be brought into force by the year 2008.
# Agricultural provisions of United States-Canada Free Trade Agreement, which was in force since the year 1989, was included in NAFTA.
Effect of NAFTA on investment:
Implementation of NAFTA, influenced investments in a positive manner. The data given below shows the investment trend with regard to Canada. The other two member partners also registered a healthy growth in investment.
Since the year 1994, stock of FDI or foreign direct investment in Canada has been approximately, USD279 billion(yearly). In the year 2005, the overall foreign direct investment in Canada was USD415 billion. Foreign direct investment by United States of America in Canada escalated to approximately, USD266 billion in the year 2005. Conversely, direct investment by Canada in other NAFTA member nations also showed an increase and attained the USD$213.7 billion mark in USA and USD3.14 billion in its other member nation- Mexico.
Implementing NAFTA has ensured removal of several obstacles with regard to investment and trade in the Canada, Mexico and United States of America.
Effects of implementing the NAFTA:
Agriculture sector:
# Non tariff obstacles pertaining to trade in agriculture between Mexico and United States of America were dissolved. In addition to this, there were other tariffs, which faced removal soon after its implementation.
# It has also been anticipated that majority of the agricultural provisions are likely to be brought into force by the year 2008.
# Agricultural provisions of United States-Canada Free Trade Agreement, which was in force since the year 1989, was included in NAFTA.
Effect of NAFTA on investment:
Implementation of NAFTA, influenced investments in a positive manner. The data given below shows the investment trend with regard to Canada. The other two member partners also registered a healthy growth in investment.
Since the year 1994, stock of FDI or foreign direct investment in Canada has been approximately, USD279 billion(yearly). In the year 2005, the overall foreign direct investment in Canada was USD415 billion. Foreign direct investment by United States of America in Canada escalated to approximately, USD266 billion in the year 2005. Conversely, direct investment by Canada in other NAFTA member nations also showed an increase and attained the USD$213.7 billion mark in USA and USD3.14 billion in its other member nation- Mexico.
Nigeria Trade, Exports and Imports
Nigeria's trade relations revolve around the oil and natural gas sectors. After the economic reforms of 2005, the government is making efforts to diversify its export profile beyond the oil sector, such as minerals and agricultural products.
Nigeria Trade: Exports
Oil and natural gas are the most important export products for Nigerian trade. The country exports approximately 2.327 million barrels per day, according to the 2007 figures. In terms of total oil exports, Nigeria ranks 8th in the world. As of 2009, Nigeria has approximately 36.2 billion barrel oil reserves. Despite large scale liberalization efforts, this sector is under close check of the government agencies. Nigerian National Oil Corporation (NNOC) is the regulatory body for the oil and natural gas sector.
Prior to oil production, which surged after the 1970s, agricultural production was the largest export sector for Nigeria. After the country became a largely oil-intensive economy, the agriculture sector took a back seat. However, it still provides employment to almost 70% of the total working population.
According to the 2009 figures, the country’s total export volumes stand at US$45.43 billion. Major items of export are oil products, cocoa and timber. The UK and the US are the largest trade partners for Nigerian exports.
Nigeria's Export Volume 2003-2009
Nigeria Trade: Imports
Due to high international oil prices, Nigeria’s import trade is able to balance export revenue. According to the 2009 figures, the country's imports grossed over US$42.1 billion. Machinery, heavy equipments, consumer goods and food products are the major imports. A large portion of the imports arrive from the EU, particularly the Netherlands, the UK, France and Germany. China, the US and South Korea are also major import trade partners.
Nigeria's Import Volume 2003-2009
After 2005, Nigeria has fostered trade relations with emerging economies, such as India, China and South Korea. After the US, India is the second largest exporter of Nigerian oil.
Nigeria Trade: Exports
Oil and natural gas are the most important export products for Nigerian trade. The country exports approximately 2.327 million barrels per day, according to the 2007 figures. In terms of total oil exports, Nigeria ranks 8th in the world. As of 2009, Nigeria has approximately 36.2 billion barrel oil reserves. Despite large scale liberalization efforts, this sector is under close check of the government agencies. Nigerian National Oil Corporation (NNOC) is the regulatory body for the oil and natural gas sector.
Prior to oil production, which surged after the 1970s, agricultural production was the largest export sector for Nigeria. After the country became a largely oil-intensive economy, the agriculture sector took a back seat. However, it still provides employment to almost 70% of the total working population.
According to the 2009 figures, the country’s total export volumes stand at US$45.43 billion. Major items of export are oil products, cocoa and timber. The UK and the US are the largest trade partners for Nigerian exports.
Nigeria's Export Volume 2003-2009
Nigeria Trade: Imports
Due to high international oil prices, Nigeria’s import trade is able to balance export revenue. According to the 2009 figures, the country's imports grossed over US$42.1 billion. Machinery, heavy equipments, consumer goods and food products are the major imports. A large portion of the imports arrive from the EU, particularly the Netherlands, the UK, France and Germany. China, the US and South Korea are also major import trade partners.
Nigeria's Import Volume 2003-2009
After 2005, Nigeria has fostered trade relations with emerging economies, such as India, China and South Korea. After the US, India is the second largest exporter of Nigerian oil.
Malaysia Trade, Exports and Imports
Southeast Asia, particularly Malaysia, has been a trade hub for centuries. Since the beginning of history, Malacca has served as a fundamental regional commercial center for Chinese, Indian, Arab and Malay merchants for trade of precious goods. Today, Malaysia shares healthy trade relations with a number of countries, specifically the US. The country is associated with trade organizations, such as APEC, ASEAN and WTO. The ASEAN Free Trade Area that was established for trade promotion among ASEAN members also has Malaysia as its founding member. Malaysia has also signed Free Trade Agreements with countries including Japan, Pakistan, China and New Zealand.
Malaysia was once the world’s largest producer of tin, rubber and palm oil. Its manufacturing sector has a crucial role in its economic growth. The export industry was hit hard during the late 2000 economic recession drastically dropping to 78% i.e. FDI to RM4.2 billion in the first two quarters of 2009. Total exports fell down to $156.4 billion in 2009 from $198.7 billion in 2008. The imports also reduced from 154.7 billion in 2008 to $119.5 billion 2009.
Malaysia Exports Commodities
Malaysia mainly exports the following commodities:
*
Electronic equipment
*
Petroleum and liquefied natural gas
*
Wood and wood products
*
Palm oil
*
Rubber
*
Textiles
*
Chemicals
Malaysia Exports Partners
The following graph depicts the shares of various export partners of Malaysia:
Malaysia's Export Partners
Malaysia Imports Commodities
Malaysia mainly imports the following commodities:
*
Electronics
*
Machinery
*
Petroleum products
*
Plastics
*
Vehicles
*
Iron and steel products
*
Chemicals
Malaysia Imports Partners
The following graph depicts the share of various import partners of Malaysia:
Malaysia's Import Partners
Malaysia was once the world’s largest producer of tin, rubber and palm oil. Its manufacturing sector has a crucial role in its economic growth. The export industry was hit hard during the late 2000 economic recession drastically dropping to 78% i.e. FDI to RM4.2 billion in the first two quarters of 2009. Total exports fell down to $156.4 billion in 2009 from $198.7 billion in 2008. The imports also reduced from 154.7 billion in 2008 to $119.5 billion 2009.
Malaysia Exports Commodities
Malaysia mainly exports the following commodities:
*
Electronic equipment
*
Petroleum and liquefied natural gas
*
Wood and wood products
*
Palm oil
*
Rubber
*
Textiles
*
Chemicals
Malaysia Exports Partners
The following graph depicts the shares of various export partners of Malaysia:
Malaysia's Export Partners
Malaysia Imports Commodities
Malaysia mainly imports the following commodities:
*
Electronics
*
Machinery
*
Petroleum products
*
Plastics
*
Vehicles
*
Iron and steel products
*
Chemicals
Malaysia Imports Partners
The following graph depicts the share of various import partners of Malaysia:
Malaysia's Import Partners
Mexico Trade, Mexico Exports, Mexico Imports
Mexico is the world’s 11th largest economy. It is known for being a free trade economy that is heavily geared towards exports. Mexico’s trade is based on free trade agreements with more than 40 countries, including Japan, Israel, EU and various Central and South American countries.
Mexico Trade: Exports & Imports under NAFTA
Mexico’s main free trade agreement involves a trilateral trade bloc between Mexico, the United States and Canada. This agreement came into force in 1994 and immediately brought about the elimination of tariffs on more than half the goods imported into the US from Mexico and roughly one third of all goods exported to Mexico from the US. The ultimate aim of the agreement is to completely eliminate US-Mexico trade tariffs within a period of 10-15 years. Meanwhile, the agreement also accounts for 50% of all Mexican exports and 45% of its imports.
The countries that Mexico imports from include:
*
United States: 44.3%
*
China 5.5%
*
Japan: 4.1%
*
South Korea: 5.3%
*
Brazil: 31.5%
*
Chile: 9.3%
*
Oil is Mexico’s main export and the largest generator of foreign income in the country. Mexico is the sixth largest oil producing country in the world, producing 3.7 million barrels daily. In fact, the production of oil is regulated by the Mexican government with private companies handling the production and shipping of oil.
Besides oil, Mexico exports the following goods to other countries:
*
Electronics
*
Automobiles
*
Aircraft
*
Silver
*
Computers
*
Fruits
*
Processed foods
*
Vegetables
*
Ships
*
Coffee
*
Electricity
*
Biotechnology
*
Cotton
*
Cellular phones
*
Metals
*
Industrial equipment
*
Firearms
*
Aluminum
*
Information technologies
*
Silicone
*
Gold
Automobile exports from Mexico are another main revenue earner for the country. Many major automobile manufacturers are located in the country, such as General Motors, Ford, Chrysler (who have been in Mexico since before the Second World War), along with Volkswagen, Nissan, Honda, Mercedes-Benz and BMW. With an infrastructure that can support R&D, as well as manufacture of components and ancillary industries, many
Mexico Trade: Exports & Imports under NAFTA
Mexico’s main free trade agreement involves a trilateral trade bloc between Mexico, the United States and Canada. This agreement came into force in 1994 and immediately brought about the elimination of tariffs on more than half the goods imported into the US from Mexico and roughly one third of all goods exported to Mexico from the US. The ultimate aim of the agreement is to completely eliminate US-Mexico trade tariffs within a period of 10-15 years. Meanwhile, the agreement also accounts for 50% of all Mexican exports and 45% of its imports.
The countries that Mexico imports from include:
*
United States: 44.3%
*
China 5.5%
*
Japan: 4.1%
*
South Korea: 5.3%
*
Brazil: 31.5%
*
Chile: 9.3%
*
Oil is Mexico’s main export and the largest generator of foreign income in the country. Mexico is the sixth largest oil producing country in the world, producing 3.7 million barrels daily. In fact, the production of oil is regulated by the Mexican government with private companies handling the production and shipping of oil.
Besides oil, Mexico exports the following goods to other countries:
*
Electronics
*
Automobiles
*
Aircraft
*
Silver
*
Computers
*
Fruits
*
Processed foods
*
Vegetables
*
Ships
*
Coffee
*
Electricity
*
Biotechnology
*
Cotton
*
Cellular phones
*
Metals
*
Industrial equipment
*
Firearms
*
Aluminum
*
Information technologies
*
Silicone
*
Gold
Automobile exports from Mexico are another main revenue earner for the country. Many major automobile manufacturers are located in the country, such as General Motors, Ford, Chrysler (who have been in Mexico since before the Second World War), along with Volkswagen, Nissan, Honda, Mercedes-Benz and BMW. With an infrastructure that can support R&D, as well as manufacture of components and ancillary industries, many
Italy Trade, Exports and Imports
Italy trade is dominated by automobiles and machineries. As the country is challenged by mountainous land, cultivation is not possible. Based on the same reason, the Italian trade depends on mostly on the manufacturing sector. World over, Italy’s famous brands such as Armani, Valentino, Versace, Benetton, Prada, FIAT, Lancia, Alfa Romeo, Maserati and Lamborghini have already created their niche in the global trade scene.
Italy Trade: Exports
Recession decreases the global trade volume significantly and Italy was no exception. Its exports volume decreased from $546.9 billion (2008) to $369 billion in 2009. However, even with such a huge decline, the country remained relatively stronger and ranked 8th in the world in terms of the exports volume.
The main exported commodities include:
*
Engineering products
*
Textiles and clothing
*
Production machinery
*
Motor vehicles
*
Transport equipment
*
Chemicals
*
Food
*
Beverages and tobacco
*
Minerals and nonferrous metals
Italy’s main export partners are:
*
Germany
*
France
*
Spain
*
US
*
UK
The graph below shows how the different partners contributed to the total volume (in percentage):
Italy: Import Partners, 2009
Italy Trade: Imports
The imports dipped as well with the recession marred years. The figures dropped from $546.9 billion of 2008 to $358.7 billion in 2009. The country again ranked 9th in terms of imports volumes.
Italy imports the following commodities:
*
Engineering products
*
Chemicals
*
Transport equipment
*
Energy products
*
Minerals and nonferrous metals
*
Textiles and clothing
*
Food
*
Beverages
*
Tobacco
Italy’s main imports partners are:
*
Germany
*
France
*
China
*
Netherlands
*
Libya
*
Russia
Italy Trade: Energy Export
Italy has a high volume of energy production in its industry sector. For the same reason, it is able to export around 3.431 billion kWh of electricity and 667,100 bbl/day of oil. Italy exports around 210 million cu m of natural gas as well. Through such increase in the energy production, Italy’s trade balance has come down from $78.03 billion to $55.44 billion in 2009.
Italy Trade: Exports
Recession decreases the global trade volume significantly and Italy was no exception. Its exports volume decreased from $546.9 billion (2008) to $369 billion in 2009. However, even with such a huge decline, the country remained relatively stronger and ranked 8th in the world in terms of the exports volume.
The main exported commodities include:
*
Engineering products
*
Textiles and clothing
*
Production machinery
*
Motor vehicles
*
Transport equipment
*
Chemicals
*
Food
*
Beverages and tobacco
*
Minerals and nonferrous metals
Italy’s main export partners are:
*
Germany
*
France
*
Spain
*
US
*
UK
The graph below shows how the different partners contributed to the total volume (in percentage):
Italy: Import Partners, 2009
Italy Trade: Imports
The imports dipped as well with the recession marred years. The figures dropped from $546.9 billion of 2008 to $358.7 billion in 2009. The country again ranked 9th in terms of imports volumes.
Italy imports the following commodities:
*
Engineering products
*
Chemicals
*
Transport equipment
*
Energy products
*
Minerals and nonferrous metals
*
Textiles and clothing
*
Food
*
Beverages
*
Tobacco
Italy’s main imports partners are:
*
Germany
*
France
*
China
*
Netherlands
*
Libya
*
Russia
Italy Trade: Energy Export
Italy has a high volume of energy production in its industry sector. For the same reason, it is able to export around 3.431 billion kWh of electricity and 667,100 bbl/day of oil. Italy exports around 210 million cu m of natural gas as well. Through such increase in the energy production, Italy’s trade balance has come down from $78.03 billion to $55.44 billion in 2009.
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