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Spain on course for record exports in 2014, trade deficit widens MADRID: Spanish exports were on course for a record high in 2014 as exports rose despite a slowing euro zone economy, but the trade deficit more than doubled from a year ago in the January-November period, official data showed on Friday.Faltering economic growth in the likes of Germany and Italy had raised concerns for Spain, which has depended on exports to fuel its recovery since mid-2013 from a deep recession.Exports of goods including food and cars continued to rise, the ministry said, albeit at a slower pace as economic growth faltered in the euro zone, the destination of almost half of Spain's exports.Spanish exports were up 2.2 percent to November compared with the same period in 2013, the economy ministry said, reaching nearly 221 billion euros ($256.5 billion).A weakening euro against the dollar in recent months also spurred sales to some countries outside the single currency area. In November alone, ...

Ghana to review budget estimates due to lower oil prices ACCRA: Ghana's government is reviewing its 2015 budget estimates given a fall in the global crude oil price, which could have a negative impact on the current account balance and foreign exchange reserves, Finance Minister Seth Terkper said on Friday.The West African state, which produces gold, cocoa and oil, is in talks with the International Monetary Fund on an assistance package designed to stabilise its economy amid high inflation and a wide budget deficit, so ...
Morocco's trade deficit narrows 6 percent in 2014 RABAT: Morocco's trade deficit narrowed by 6 percent year on year in 2014, data showed, reflecting lower energy imports as oil prices fell and exports surged.The trade gap was 186.35 billion Moroccan dirham ($19.83 billion) with exports up 6.1 percent and imports down 0.2 percent, Rabat's foreign exchange regulator said on Friday.Auto and electronics exports rose by 26.2 percent and 26 percent respectively. Energy imports declined by 10.1 percent and wheat imports increased by 51.2 ...
Russian firm seals $1bn deal to supply US rocket engines MOSCOW: A Russian manufacturer on Friday announced a $1 billion deal to supply engines for the US Antares rockets making deliveries to the International Space Station. Russian producer Energia said in a statement that it had signed the bumper deal to build 60 engines with private US firm Orbital Science, which has a $1.9 billion contract with NASA to supply the space station. Deliveries of the new RD-181 engines would start in June, the statement ...
German inflation hits five-year low in December FRANKFURT: Inflation in Germany, Europe's biggest economy, slowed to just 0.2 percent in December, its lowest level in more than five years, and averaged 0.9 percent for the whole of 2014, data showed Friday.In final data confirming a preliminary flash estimate released earlier this month, the federal statistics office Destatis calculated that German inflation stood at just 0.2 percent year-on-year last month, down from 0.6 percent in November.The last time inflation in Germany was lower ...
EU says suspects Amazon tax deal with Luxembourg was illegal BRUSSELS: EU regulators said Friday they believe Luxembourg gave illegal tax breaks to Internet shopping giant Amazon, renewing pressure on European Commission chief Jean-Claude Juncker over arrangements made when he was prime minister.The European Commission's preliminary findings into Amazon's deals with the tiny duchy were the latest in a widening anti-trust probe by Brussels into sweetheart tax deals between major companies and several countries.They also come months after the "Luxleaks" tax scandal, in which investigative ...
EU clears 553,000 tonnes wheat exports this week PARIS: The European Union this week granted export licences for 553,000 tonnes of soft wheat, taking the total since the beginning of the 2014/15 (July-June) season to 15.3 million tonnes, official data showed on Thursday. The total so far this season compared with 15.9 million tonnes of export licences cleared by the same stage last season.The EU also granted this week licences to export 179,000 tonnes of barley, bringing the total this season to 4.5 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln