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High fuel price leads to trade deficit in 2006
Textiles
High fuel price leads to trade deficit in 2006
19 Feb '07
1 min read
Last year, international trade failed to create surplus as imports were more compared to exports.
As per report released by Bureau of Statistics for 2006, exports of the country reached US $1.175 billion, a decline of $33.9 million.
However, imports stood at $397 million last year, a hike of $3.119 billion.
According to experts, imports have witnessed a rise due to high fuel price and cost of transportation for importing it.
Exports were mainly affected by the decline in sales of garments, sugar and gold.
Imports from countries like China, France, Germany, Hong Kong, India and other countries have increased significantly, report mentioned.
More Textiles News - Fiji...
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