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

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Eamonn Tighe
Nature Works LLC

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

Marcel Alberts
Eurofibers

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search