GF 323
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10
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Exports
Year-on-year
growth rate
Imports
Year-on-year
growth rate
Visible trade
Value
in money terms
Value
in money terms
balance
(US$BN)
(%)
(USSBN)
(%)
(USSBN)
1990 Annual
62.1
18.1
53.3
-9.8
3.7
H1
25.7
15.0
23.1
-17.7
2.5
H2
36.4
20.2
30.3
-2.7
5.2
1991
Q1
13.3
23.5
11.1
11.7
2.2
Q2
17.1
14.9
15.6
19.2
1.4
H1
30.4
18.5
26.8
15.9
3.5
12.
Some
Reflecting the much faster growth rate of output
of the foreign-funded enterprises, the share of exports
attributed to these enterprises increased to 15.5% in the
first half of 1991 from 12.6% in 199019).
foreign-funded enterprises are allowed to have a certain
proportion of their output sold in the local market. But
the quotas are usually under-utilised given that most of
their output are destined for export. The relatively poor performance of the official foreign trade corporations was
related partly to the new foreign trade system which
eliminated all fiscal subsidies on exports, and partly to
the closure of
many of these corporations as a result of
the campaign for rectification of economic order(20).
13.
In the latest
Development Report, the
edition of the World Bank's World
Bank
"market friendliness" which
sets out a new policy of
emphasizes private sector
(19) In the first half of 1991, exports by foreign-funded enterprises reached US$4.7 billion, representing an increase of 58.4% over the same period in 1990.
(20)
Up to end-June 1991, 932 official foreign trade corporations or 43.6% of the original total had been closed.
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