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FOREIGN TRADE
The country has experienced both the trade deficit as well as the balance of payment
The country has experienced both the trade deficit as well as the balance of payment deficit over the years. The major exportable commodities of the country are crude oil, marine products, coffee, rubber, and tea.
The exports partners of the country are Germany, Japan, Singapore, Taiwan, Hong Kong, South Korea and China.
The major importable items of the country are machine products, petroleum products, fertilizer, steel products, cotton, grain, cement, and motorcycles. The imports partners of the country are Singapore, South Korea, France, Japan, Taiwan and Hong Kong.
The balance of payment of the country as of the year 2004 is calculated at US $ -3,245 Millions.
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The following diagram gives a clear picture upon the levels of exports and imports in the country.
CONCLUSION
The World Banks Country Assistance strategy has aimed at reducing poverty and maintaining a higher economic growth. The country in the present times has attracted more and more investments from Europe, Asia and the United States.
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