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Canada trade deficit widens to second largest ever OTTAWA: Canada's trade deficit widened to Can$2.5 billion ($2.0 billion) in January -- its second largest ever -- as exports fell due to plunging crude oil prices, the government statistics agency said Friday. The figure was more than double December's trade deficit and the largest since a record Can$2.9 billion deficit in July 2012, said Statistics Canada.Exports declined 2.8 percent to Can$42.6 billion, while imports were largely unchanged from December.Exports of crude bitumen fell 23 percent. Exports of metals and non-metal mineral products were also down, while passenger car and truck shipments abroad increased.Imports of communications and audio and video equipment soared and imports of industrial machinery and equipment hit a record high. But these gains were offset by a drop in oil imports.Exports to the United States -- Canada's neighbor and largest trading partner -- fell 3.1 percent in the month. Imports from the United States were also down.The ...

Spiraling prices drive up Brazil inflation: official BRASILIA: Inflationary pressures rose in Brazil on February with price increases hitting an annual rate of 7.7 percent, the highest in nearly nine years, officials said Friday.South America's largest economy is also struggling with sluggish growth and a corruption scandal at state oil giant Petrobras so the uptick on the inflation front was unwelcome news.The national statistical institute IBGE said prices rose 1.22 percent in February, pushing inflation well above the government's target ceiling of ...
China's 2015 budget deficit rate higher than declared: minister BEIJING: China's budget deficit this year will be higher than previously declared as the government boosts fiscal spending in a bid to bolster economic growth, the finance minister said Friday.Premier Li Keqiang said Thursday in his "work report" to the National People's Congress (NPC), the country's Communist-controlled parliament, that the deficit would amount to 2.3 percent of gross domestic product, up from 2.1 percent in 2014.But Lou Jiwei said Friday that a further 200 billion ...
Mixed fortunes blur idea of Africa's collective 'rising' JOHANNESBURG: Falling commodity prices, political upheaval and simmering conflict are exposing the differing fortunes of Africa's economies, undermining the idea that the continent of a billion people is on one collective ascent.Sub-Saharan Africa has achieved annual growth of more than 5 percent over the last decade, and foreign investment has more than quadrupled over the same period, feeding the popular catch phrase that Africa is 'raising'.However, the regional cooperation, infrastructure development and political reforms needed ...
China considers taxing foreign investors for share gains SHANGHAI: China is considering taxing foreign investors for their share-trading profits going back to November when Beijing announced an exemption of such duties after the launch of the Shanghai-Hong Kong connect scheme, the stock regulator said on Friday.China's two largest portfolio investment schemes for foreigners, known as the Qualified Foreign Institutional Investor (QFII) and the renminbi-denominated version of the same programme (RQFII) will likely be subject to a 10 percent corporate income tax until Nov. ...
New Zealand wholesale sales rise in Q4 WELLINGTON: New Zealand seasonally adjusted wholesale sales rose 0.3 percent in the fourth quarter, led by higher sales of pharmaceuticals, stationery, furniture, and cars, official data showed on Friday.Statistics New Zealand said the data compared with a downwardly revised gain of 0.6 percent in the previous quarter.The seasonally adjusted value of total wholesale stocks in the three months to Dec. 31 rose 3.4 percent to NZ$9.6 billion ($7.18 billion).The data is one of the final ...
US jobless claims climb WASHINGTON: New claims for US unemployment insurance rose modestly last week, sticking above the 300,000 level for the second week in a row, according to Labor Department data released Thursday.Americans filed 320,000 initial jobless claims in the week ending February 28, an increase of 7,000 from the prior week.The rise in jobless claims, a sign of the pace of layoffs, was stronger than the 295,000 number expected by analysts.The four-week moving average of new claims ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln