Home / Knowledge / News / Textiles / Trade deficit widens with high crude oil imports
Trade deficit widens with high crude oil imports
25
Jun '08
Trade results of Costa Rica haven't been very encouraging and it is not expected to be so with a 95 percent deficit in the period between May 2007 and the same month this year.

Mounting imports have been zeroed in as one of the major reasons for trade deficit moving from $1.2 billion in 2007 to $2.3 billion this year. However, the imbalance in trade has been registered despite a 7.8 percent increase in exports which touched $4.2 billion, a rise of $300 million in terms of value.

Experts believe that ever-increasing crude oil prices have been a major reason behind this contradictory trade condition. Costa Rica imported around $448.5 million of fuel in May 2007 while in the corresponding period of 2008, it amounted to $843.1 million, recording an 88 percent increase.

Even the textile industry has been reported to have plunged by 21 percent in sales compared to last year. Only agriculture sector remained an exception by procuring a gain of 9.5 percent.

However, it was relief for the country that despite an unstable economy, trade with the US witnessed only a marginal decline as exports to the North American giant's market dropped by a meager 0.1 percent or $2 million.

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search