imports

Imports stay static in Pakistan

ISLAMABAD: The trade deficit marginally contracted to $11.8 billion in first four months of the current fiscal year on the back of almost flat growth in imports for the fourth consecutive month while the pace of increase in exports remained modest despite numerous rounds of currency depreciation.

The $11.8-billion deficit, recorded in July-October FY19, was nearly 2% or $237 million lesser than the same period of last fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Friday (Nov....

http://container-news.com/imports-stay-static-pakistan/

Traders rush to beat higher tariffs – China numbers boosted

China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.

Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.

The upbeat trade readings from China offer good news for both those worried about global demand and for the...

http://container-news.com/traders-rush-beat-higher-tariffs-china-numbers-boosted/

Kenya is losing millions due to corrupt traders

Kenya is losing millions in revenues due to unscrupulous traders who deliberately price imports and exports wrongly, a new report shows.

The report, released this month, shows that the government potentially lost $907 million in revenue in 2013 due to misinvoicing and illicit financial flows.

“Trade misinvoincing is when imports or exports are misquoted at the port in order to avoid paying custom duties. It can occur when there is import under-invoicing, which would cause fewer VAT taxes and...

http://container-news.com/kenya-losing-millions-corrupt-traders/

Pakistan needs to increase its exports

ISLAMABAD: Pakistan’s terms of trade, which measure the ratio of export to import prices, have not only been adverse, but have also deteriorated over the years, which has adversely impacted the economy in terms of growth and balance of payments.

If an economy’s terms of trade are less than 100%, they are regarded as adverse. This signifies that capital inflows into the economy in the form of export receipts are less than capital outflows in the form of import payments.

In the case of Pakistan,...

http://container-news.com/pakistan-needs-increase-exports/

Ghana: Exemptions from CTN numbers

The Commissioner General of the Ghana Revenue Authority, Emmanuel Kofi Nti, has disclosed that, CTN numbers on imports would only be required from importers whose imports exceed Thirty-Six TEUs per year from the country of exports.

That means importers who import less than 36 TEUs per year would be exempted from CTN compliance.

He made this statement during a media engagement in Accra on the date of implementation, 15th October 2018.

“Importers whose imports, from records exceed thirty-six TEUs...

http://container-news.com/ghana-excemptions-ctn-numbers/

Record imports push US trade gap

WASHINGTON (AP) — Record imports drove the U.S. trade deficit up for the third straight month in August. The deficit in the trade of goods with China and Mexico hit records.

The Commerce Department said Friday that the trade gap — the difference between what America sells and what it buys abroad — rose to $53.2 billion in August from $50 billion in July. The August reading was the highest since February.

Imports rose 0.6 percent to a record $262.7 billion on higher shipments of cellphones and...

http://container-news.com/record-imports-push-us-trade-gap/

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