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FOREIGN TRADE
The country has experienced the trade deficits in the earlier years. In the
year 2003 and 2004 the country has experienced both the trade surplus as well as the balance of payment surplus. The major exportable commodities of the country are textiles and footwear, fishery products, rice, jewelry, automobiles, rubber and computers. The exports partners of the country are US, Japan, Singapore, China, Malaysia and Hong Kong.
The major importable items of the country are capital goods, intermediate goods and raw materials, fuels and consumer goods. The imports partners of the country are Japan, US, China, Malaysia, Singapore and Taiwan.
The balance of payment of the country as of the year 2004 is calculated at US $ 6,960 Millions.
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The following diagram gives a clear picture upon the levels of exports and imports in the country.
CONCLUSION
The country has largely implemented reforms process in the financial sector and has entered in to the era of more competition.It joined the World Bank on May 3, 1949. The World Bank has stepped forward to develop the private sector, reduce poverty and create a better business environment in the country.
The country also comes under the two apex international organizations like WTO and APEC.
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