Related Research Articles
The economy of Armenia grew by 12.6% in 2022, according to the country's Statistical Committee and the International Monetary Fund. Total output amounted to 8.5 trillion Armenian drams, or $19.5 billion. At the same time, Armenia's foreign trade turnover significantly accelerated in growth from 17.7% in 2021 to 68.6% in 2022. GDP contracted sharply in 2020 by 7.2%, mainly due to the COVID-19 recession and the war against Azerbaijan. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key banking indicators like assets and credit exposures almost doubled.
Balance of trade can be measured in terms of commercial balance, or net exports. Balance of trade is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other.
The economy of the Czech Republic is a developed export-oriented social market economy based in services, manufacturing, and innovation that maintains a high-income welfare state and the European social model. The Czech Republic participates in the European Single Market as a member of the European Union, and is therefore a part of the economy of the European Union. It uses its own currency, the Czech koruna, instead of the euro. It is a member of the Organisation for Economic Co-operation and Development (OECD). The Czech Republic ranks 16th in inequality-adjusted human development and 24th in World Bank Human Capital Index, ahead of countries such as the United States, the United Kingdom or France. It was described by The Guardian as "one of Europe's most flourishing economies".
The economy of Indonesia is a mixed economy with dirigiste characteristics, and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Estimated at over 21 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However, since the 1990s, the majority of the economy has been controlled by individual Indonesians and foreign companies.
The economy of North Macedonia has become more liberalized, with an improved business environment, since its independence from Yugoslavia in 1991, which deprived the country of its key protected markets and the large transfer payments from Belgrade. Prior to independence, North Macedonia was Yugoslavia's poorest republic. An absence of infrastructure, United Nations sanctions on its largest market, and a Greek economic embargo hindered economic growth until 1996.
The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. It has enormous natural resources, particularly oil and natural gas. In 2023, it was the world's 11th-largest economy by nominal GDP, 6th-largest by purchasing power parity (PPP) according to IMF, and 5th-largest according to World Bank. Due to a volatile currency exchange rate, Russia's GDP as measured in dollars fluctuates sharply. Russia was the last major economy to join the WTO, becoming a member in 2012.
In macroeconomics and international finance, a country's current account records the value of exports and imports of both goods and services and international transfers of capital. It is one of the two components of the balance of payments, the other being the capital account. Current account measures the nation's earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income and net unilateral transfers, that have taken place over a given period of time. The current account balance is one of two major measures of a country's foreign trade. A current account surplus indicates that the value of a country's net foreign assets grew over the period in question, and a current account deficit indicates that it shrank. Both government and private payments are included in the calculation. It is called the current account because goods and services are generally consumed in the current period.
Foreign trade of Argentina includes economic activities both within and outside Argentina especially with regards to merchandise exports and imports, as well as trade in services.
In its economic relations, Japan is both a major trading nation and one of the largest international investors in the world. In many respects, international trade is the lifeblood of Japan's economy. Imports and exports totaling the equivalent of nearly US$1.309.2 Trillion in 2017, which meant that Japan was the world's fourth largest trading nation after China, the United States and Germany. Trade was once the primary form of Japan's international economic relationships, but in the 1980s its rapidly rising foreign investments added a new and increasingly important dimension, broadening the horizons of Japanese businesses and giving Japan new world prominence.
Foreign trade of the United States comprises the international imports and exports of the United States. The country is among the top three global importers and exporters.
Manufacturing is a vital economic sector in the United States. The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2021 of $2.5 trillion.
Pakistan has bilateral and multilateral trade agreements with many nations and international organizations. It is a member of the World Trade Organization, part of the South Asian Free Trade Area agreement and the China–Pakistan Free Trade Agreement. Fluctuating world demand for its exports, domestic political uncertainty, and the impact of occasional droughts on its agricultural production have all contributed to variability in Pakistan's trade deficit. The trade deficit for the fiscal year 2013/14 is $7.743 billion, exports are $10.367 billion in July–November 2013 and imports are $18.110 billion.
Foreign trade in India includes all imports and exports to and from India. At the level of Central Government it is administered by the Ministry of Commerce and Industry. Foreign trade accounted for 48.8% of India's GDP in 2018.
Bangladesh–Canada relations are the foreign relations between Bangladesh and Canada established 1972. Canada is represented through its High Commission in Dhaka and Bangladesh is represented through its High Commission in Ottawa. They are members of the Commonwealth of Nations and the United Nations. Bangladesh currently receives ~$110 million from Canadian official development assistance per year as of January 2014. It is estimated that around 36,000 (2012) Bangladeshi people live in Canada, primarily in cities like Toronto, Vancouver, Montreal, Calgary, Edmonton, and Ottawa.
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. President Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft. The Trump administration stated that these practices may contribute to the U.S.–China trade deficit, and that the Chinese government requires transfer of American technology to China. In response to US trade measures, the Chinese government accused the Trump administration of engaging in nationalist protectionism and took retaliatory action. After the trade war escalated through 2019, in January 2020 the two sides reached a tense phase one agreement; it expired in December 2021 with China failing by a wide margin to reach its targets for U.S. imports to China. By the end of the Trump presidency, the trade war was widely characterized as a failure for the United States. His successor, Joe Biden, however, has kept the tariffs in place.
Trump administration farmer bailouts are a series of United States bailout programs introduced during the presidency of Donald Trump as a consequence of his "America First" economic policy to help US farmers suffering due to the US-China trade war and trade disputes with European Union, Japan, Canada, Mexico, and others. China and respectively European reconcilable tariffs imposed on peanut butter, soybeans, orange juice, and other agriculture products had hit hard, especially swing states, such as Iowa, Ohio, and Wisconsin.
The trade policy of Switzerland refers to Switzerland's approach to importing and exporting with other countries.
Sudan's exports in 2008 amounted to US$12.4 billion, and its imports totaled US$8.9 billion. Agricultural products dominated Sudanese exports until Sudan began to export petroleum and petroleum products. By 2000 the value of petroleum-based products surpassed the total of all other exports combined. By 2008, they had reached US$11.6 billion and have accounted for 80 to 94 percent of all export revenue since 2000, the result of expanded oil production, as well as higher oil prices. Because oil provides such a large proportion of export earnings, Sudan is now vulnerable to the volatility of the international price of oil.
References
- 1 2 3 4 5 6 Division, US Census Bureau Foreign Trade. "Foreign Trade: Data Hi– 2020 Full Reports: December 2020". www.census.gov. Retrieved 2021-05-25.
- 1 2 3 4 5 6 "Data PDF" (PDF). February 5, 2021.
- ↑ Torry, Harriet (2020-06-04). "U.S. Exports, Imports Fell Sharply in April Amid Coronavirus Disruptions". Wall Street Journal. ISSN 0099-9660 . Retrieved 2021-05-26.
| Terminology |
| ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Organizations and policies | |||||||||||
| Political economy | |||||||||||
| Regional organizations |
| ||||||||||
| Exports by product |
| ||||||||||
