New trends for key exports in 2009
A shift in the export landscape is anticipated for 2009, according to the Ministry of Industry and Trade (MoIT).
It is difficult for the minerals sector to achieve a high growth rate this year due to a sharp decline in crude oil and coal exports. Its export turnover is estimated at US$5.9 billion, 50% less than in 2008 or just a little more than 8% of the country’s total export value.
The agricultural, forestry and seafood sector is expected to earn more than US$12 billion from exports, down 4.8% compared to 2008.
The industrial sector is likely to rake in more than US$52 billion from exports, up 38% and making up around 70% of the country’s total export value. Notably, garment and footwear exports are forecast to hit US$11.5 billion and US$5.1 billion respectively.
Other industrial staples earning more than US$1 billion each such as wood, plastics, rubber, and electric cables and wires are expected to increase by 8-30%.
