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FOREIGN TRADE
The country experiences a trade surplus over the years.
The major exportable items of the country are petroleum, bauxite and aluminum, chemicals, steel, agricultural products, basic manufactures. The exports partners of the country are US, Colombia, Brazil, Japan, Germany, Netherland and Italy.
The important importable items are raw materials, machinery and equipment, construction materials and transport equipments. The imports partners of the country are US, Japan, Italy, Colombia, Germany, France and Canada.
The total exports earnings in 2004 was 21,912 millions in US$. Revenues from oil, steel and manufacturing was the highest. The total imports payments in the same year was 12,573 millions in US$.
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The following graph shows the exports and imports levels in the country over the years.
CONCLUSION
In the year 2002, the World Bank completed an Interim Country Assistance strategy (CAS) for the country. The programme focuses on restoring the economic growth and reducing the level of poverty in the country. The international Finance Corporation (IFC) has also stepped forward for making an overall development for the country.
The country is also a member of the South American Community of Nations (SACN).
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