India's&nbsp;rice&nbsp;exports&nbsp;in&nbsp;April-June&nbsp;dived&nbsp;28.2%&nbsp;from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati&nbsp;rice&nbsp;was subdued from African buyers.

The country's non-basmati&nbsp;rice&nbsp;exports&nbsp;plunged 43% during the period to 1.2 million tonnes, the Agricultural and Processed Food Products Export Development Authority (APEDA) said in a statement.

India's&nbsp;rice&nbsp;exports&nbsp;in 2019/20 are likely to fall to their lowest level in seven years, industry officials said last month, as <a href="https://www.wionews.com/south-asia/india-rice-rates-dip-as-demand-slows-bangladesh-to-review-export-ban-211739">weak demand from African countries</a> weighs and shippers absorb the absence of government incentives that supported previous sales.

New Delhi is the world's biggest exporter of&nbsp;rice, buffalo meat and guar gum.

The country's buffalo meat&nbsp;exports&nbsp;during the period eased to 275,398 tonnes from 276,450 tonnes a year ago, it said.

India's&nbsp;guar gum&nbsp;exports&nbsp;dropped 5.5% to 127,700 tonnes on lower demand from the United States, while pulses&nbsp;exports&nbsp;more than halved to 45,344 tonnes, the APEDA said.

India's rice exports in April-June dived 28.2% from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati rice was subdued from African buyers.

India's rice exports in April-June dived 28.2% from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati rice was subdued from African buyers. The country's non-basmati rice exports plunged 43% during the period to 1.2 million tonnes, the Agricultural and Processed Food Products Export Development Authority (APEDA) said in a statement. India's rice exports in 2019/20 are likely to fall to their lowest level in seven years, industry officials said last month, as weak demand from African countries weighs and shippers absorb the absence of government incentives that supported previous sales. New Delhi is the world's biggest exporter of rice, buffalo meat and guar gum. The country's buffalo meat exports during the period eased to 275,398 tonnes from 276,450 tonnes a year ago, it said. India's guar gum exports dropped 5.5% to 127,700 tonnes on lower demand from the United States, while pulses exports more than halved to 45,344 tonnes, the APEDA said.

India's April-June rice exports dive 28.2%

India's finished steel exports in May fell to their lowest in three years as shipments to traditional markets in the European Union (EU) and Nepal shrank, preliminary government data reviewed by Reuters showed.

India exported 319,000 tonnes of finished steel in May, down 28 per cent from the same month last year and the lowest level since April 2016, the data showed.&nbsp;

Steel exports to the EU dropped 55 per cent in May, led by fewer shipments to Italy, Belgium and Spain, which together made up about 80% of India's overall exports to the region.

That comes amid 'safeguard'&nbsp;measures by the EU that are designed to limit incoming steel and prevent a surge of imports as a result of Washington's 25 per cent import tariffs, which have effectively closed the U.S. market.

Indian exports to Italy slumped 65 per cent to 23,000 tonnes, according to the data. Exports to Spain fell 41% to 13,000 tonnes, while shipments to Belgium were down 42% at 25,000 tonnes.

India, which typically ships cold-rolled coil, galvanized steel and some long products such as bars and rods to the EU, saw a decline in these shipments by as much as 30 per cent.

Meanwhile, India's exports to Nepal, the top destination last year, were down 22 per cent&nbsp;at 63,000 tonnes.&nbsp;

Shipments were also substantially lower to Malaysia and Sri Lanka, which were among the top 10 export destinations last year.&nbsp;

Exports of steel plate, which is one of the flat products that comprise most of India's steel exports, fell 60 per cent&nbsp;to 14,000 tonnes, the data showed.

Shipments of pipes, which are typically the main steel product exported to the United States, dropped 97 per cent&nbsp;to 2,000 tonnes.&nbsp;

Overall, India's finished steel exports were down 30 per cent&nbsp;during April-May and the country remained a net importer.

Hit by low exports and facing higher imports, India's steel ministry has been pushing for higher import duties.&nbsp;

India's finished steel exports in May fell to their lowest in three years as shipments to traditional markets in the European Union (EU) and Nepal shrank, preliminary government data reviewed by Reuters showed.

India's finished steel exports in May fell to their lowest in three years as shipments to traditional markets in the European Union (EU) and Nepal shrank, preliminary government data reviewed by Reuters showed. India exported 319,000 tonnes of finished steel in May, down 28 per cent from the same month last year and the lowest level since April 2016, the data showed. Steel exports to the EU dropped 55 per cent in May, led by fewer shipments to Italy, Belgium and Spain, which together made up about 80% of India's overall exports to the region. That comes amid 'safeguard' measures by the EU that are designed to limit incoming steel and prevent a surge of imports as a result of Washington's 25 per cent import tariffs, which have effectively closed the U.S. market. Indian exports to Italy slumped 65 per cent to 23,000 tonnes, according to the data. Exports to Spain fell 41% to 13,000 tonnes, while shipments to Belgium were down 42% at 25,000 tonnes. India, which typically ships cold-rolled coil, galvanized steel and some long products such as bars and rods to the EU, saw a decline in these shipments by as much as 30 per cent. Meanwhile, India's exports to Nepal, the top destination last year, were down 22 per cent at 63,000 tonnes. Shipments were also substantially lower to Malaysia and Sri Lanka, which were among the top 10 export destinations last year. Exports of steel plate, which is one of the flat products that comprise most of India's steel exports, fell 60 per cent to 14,000 tonnes, the data showed. Shipments of pipes, which are typically the main steel product exported to the United States, dropped 97 per cent to 2,000 tonnes. Overall, India's finished steel exports were down 30 per cent during April-May and the country remained a net importer. Hit by low exports and facing higher imports, India's steel ministry has been pushing for higher import duties.

India's May steel exports drop to lowest in three years

The ongoing trade war between the <a href="https://www.wionews.com/world/imf-warns-us-china-trade-war-will-jeopardize-2019-global-growth-221117">US and China</a> offers an opportunity to India for boosting <a href="https://www.wionews.com/south-asia/india-rice-rates-dip-as-demand-slows-bangladesh-to-review-export-ban-211739">exports</a> of as many 350 <a href="https://www.wionews.com/business-economy/india-imposes-higher-customs-duty-on-28-us-products-will-come-into-effect-from-sunday-227455">products</a> such as chemicals and granite to these countries, a study by the Commerce Ministry has said.

The identification of these products is part of a study carried out by the ministry which states that the ongoing tariff or customs duties war between the <a href="https://www.wionews.com/world/asian-markets-tumble-over-intensifying-us-china-trade-tensions-223751">US and China</a> proves a big window of opportunity for enhancing India's exports to these two nations.

Both the US and China are imposing heavy import duties on each other's products, which has triggered a trade war kind of situation.

According to the study, as much 151 domestic products including diesel, X-ray tubes and certain chemicals have an outright advantage to displace the US exports to China.

Similarly, 203 Indian goods like rubber and graphite electrodes have the advantage to displace Chinese exports to the US.

It said that the specific products in which India can potentially expand exports to China immediately based on its strengths and available market access in the neighbouring country and also those in which concerted efforts need to be made to acquire market access are being shared with the line ministries.

The ongoing trade war may bring about a shift in the global trading patterns due to spillover effects and displacement of the bilaterally traded communities to other countries, it said.

The Indian products which can tap the Chinese market include copper ores, rubber, paper/paperboard, equipment for transmission voice/data in a wired network, tunes and pipes.

Similarly, domestic goods which can grab exports opportunities in the US market include industrial valves, vulcanised rubber, carbon or graphite electrodes and natural honey.

Increasing exports would help India narrow the widening trade deficit with China, which stood at USD 50.12 billion during April-February 2018-19.

Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said that the trade war between the US and China is benefitting India.

He has said that India's exports to the US went up by 11.2 per cent in 2018 and to China by 31.4 per cent in the same year.

Echoing the views, Ludhiana-based exporter and former FIEO president S C Ralhan said enormous opportunities are there in the engineering and machinery sector in both the countries and "we have to tap that".

The ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries, a study by the Commerce Ministry has said.

The ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries, a study by the Commerce Ministry has said. The identification of these products is part of a study carried out by the ministry which states that the ongoing tariff or customs duties war between the US and China proves a big window of opportunity for enhancing India's exports to these two nations. Both the US and China are imposing heavy import duties on each other's products, which has triggered a trade war kind of situation. According to the study, as much 151 domestic products including diesel, X-ray tubes and certain chemicals have an outright advantage to displace the US exports to China. Similarly, 203 Indian goods like rubber and graphite electrodes have the advantage to displace Chinese exports to the US. It said that the specific products in which India can potentially expand exports to China immediately based on its strengths and available market access in the neighbouring country and also those in which concerted efforts need to be made to acquire market access are being shared with the line ministries. The ongoing trade war may bring about a shift in the global trading patterns due to spillover effects and displacement of the bilaterally traded communities to other countries, it said. The Indian products which can tap the Chinese market include copper ores, rubber, paper/paperboard, equipment for transmission voice/data in a wired network, tunes and pipes. Similarly, domestic goods which can grab exports opportunities in the US market include industrial valves, vulcanised rubber, carbon or graphite electrodes and natural honey. Increasing exports would help India narrow the widening trade deficit with China, which stood at USD 50.12 billion during April-February 2018-19. Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said that the trade war between the US and China is benefitting India. He has said that India's exports to the US went up by 11.2 per cent in 2018 and to China by 31.4 per cent in the same year. Echoing the views, Ludhiana-based exporter and former FIEO president S C Ralhan said enormous opportunities are there in the engineering and machinery sector in both the countries and "we have to tap that".

Amid US-China trade war, India can boost exports of 300 products to both countries: Report

India fears China could soon start flooding excess steel into its market after the United States raised tariffs on Chinese products due to the escalating trade war between the world's two largest economies.

India worried of excess Chinese steel exports after US-China trade war

US raises tariffs on Chinese import for goods worth $200 Bn. Watch this video for complete details.

US raises tariffs on Chinese import for goods worth $200 Bn

<a href="https://www.wionews.com/business-economy/amazon-raises-stakes-for-rivals-with-one-day-delivery-goal-after-profit-surge-213573">Online marketplace Amazon</a> Tuesday said it expects e-commerce exports from India to reach $5 billion by 2023 under its global selling programme.

"Amazon launched the global selling programme in India four years ago, aligning with this vision. Over the next five years, 'India to Global' has the potential to become huge," Amazon India Country Head Amit Agarwal said in a statement.

He said the firm is confident that the "global selling programme will hit the $5-billion mark by 2023 fuelling the growth of lakhs of Indian manufacturers, exporters and small enterprises".

The programme started with just a few hundred sellers in 2015 and has now crossed $1-billion export mark from India with 50,000 exporters.

Amazon in the second edition of its annual 'Export Digest' said there has been a growth of 56 per cent in the number of global sellers from India in 2018.

It said Amazon's international marketplaces saw a rise of 55 per cent in the selection of Indian products offered globally and 71 per cent growth in sellers.

"The Annual Exports Digest showcases top Indian states and cities with international exporters and most popular product categories abroad. Delhi, Rajasthan, Maharashtra,

Gujarat, Uttar Pradesh and Haryana emerged as the leading states with most international exporters on Amazon in 2018," the statement said.

It added that books, apparel, jewellery, kitchen and health &amp; personal care products witnessed a huge demand from international customers across ethnicities.

Online marketplace Amazon Tuesday said it expects e-commerce exports from India to reach $5 billion by 2023 under its global selling programme. "Amazon launched the global selling programme in India four years ago, aligning with this vision.

Online marketplace Amazon Tuesday said it expects e-commerce exports from India to reach $5 billion by 2023 under its global selling programme. "Amazon launched the global selling programme in India four years ago, aligning with this vision. Over the next five years, 'India to Global' has the potential to become huge," Amazon India Country Head Amit Agarwal said in a statement. He said the firm is confident that the "global selling programme will hit the $5-billion mark by 2023 fuelling the growth of lakhs of Indian manufacturers, exporters and small enterprises". The programme started with just a few hundred sellers in 2015 and has now crossed $1-billion export mark from India with 50,000 exporters. Amazon in the second edition of its annual 'Export Digest' said there has been a growth of 56 per cent in the number of global sellers from India in 2018. It said Amazon's international marketplaces saw a rise of 55 per cent in the selection of Indian products offered globally and 71 per cent growth in sellers. "The Annual Exports Digest showcases top Indian states and cities with international exporters and most popular product categories abroad. Delhi, Rajasthan, Maharashtra, Gujarat, Uttar Pradesh and Haryana emerged as the leading states with most international exporters on Amazon in 2018," the statement said. It added that books, apparel, jewellery, kitchen and health & personal care products witnessed a huge demand from international customers across ethnicities.

Amazon targets $5 billion e-commerce exports from India by 2023

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy.

Exports slipped 1.2 per cent from a year earlier to 6.38 trillion yen ($57 billion) and imports declined even more sharply -- by 6.7 per cent to 6.05 trillion yen.

"Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector," Asuka Sakamoto, an economist at Mizuho Research Institute, told AFP.

The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto.

Analysts will be closely watching export and corporate investment data for further clues on the economy's health, she said.

Exports to China increased 5.5 per cent while imports dropped 15.8 per cent, as imports declined of clothes, metal products and parts for audiovisual products.

Japan's politically sensitive surplus with the United States slipped 0.9 per cent from a year earlier to 624.9 billion yen.

With the European Union, Japan logged a 58.2 billion yen surplus.

Overall, the country logged a 339 billion yen trade surplus in February, the first surplus for five months.

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy.

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy. Exports slipped 1.2 per cent from a year earlier to 6.38 trillion yen ($57 billion) and imports declined even more sharply -- by 6.7 per cent to 6.05 trillion yen. "Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector," Asuka Sakamoto, an economist at Mizuho Research Institute, told AFP. The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto. Analysts will be closely watching export and corporate investment data for further clues on the economy's health, she said. Exports to China increased 5.5 per cent while imports dropped 15.8 per cent, as imports declined of clothes, metal products and parts for audiovisual products. Japan's politically sensitive surplus with the United States slipped 0.9 per cent from a year earlier to 624.9 billion yen. With the European Union, Japan logged a 58.2 billion yen surplus. Overall, the country logged a 339 billion yen trade surplus in February, the first surplus for five months.

Japan's exports decline for third straight month

Russia's <a href="http://www.wionews.com/world/opinion-does-russia-have-what-it-takes-to-be-a-global-superpower-33363">arms export</a> to India fell by a whopping 42 per cent between 2014-18 and 2009-2013, according to a new report.

As a result, Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013, according to the report "Trends in International Arms Transfers, 2018" released by the Stockholm International Peace Research Institute (SIPRI).

In line with Prime Minister Narendra Modi's effort to reduce country's dependence on foreign arms, India's import of arms decreased by 24 per cent between 2009-2013 and 2014-2018, according to the figures released by the report.

This decline in India's import is also partly due to delays in deliveries of arms produced under license from foreign suppliers, such as combat aircraft ordered from Russia in 2001 and submarines ordered from France in 2008.

Still, India was the world's second largest importer of major arms in 2014-18 and accounted for 9.5 per cent of the global total.

Israel, the USA and France all increased their arms exports to India in 2014-18.

Pakistan's arms imports decreased by 39 per cent between 2009-13 and 2014-18. The US has become increasingly reluctant to provide military aid or sell arms to Pakistan. US arms exports to Pakistan fell by 81 per cent between 2009-13 and 2014-18, it said.

Pakistan has instead turned to other suppliers. For example, in 2018 it ordered 4 frigates and 30 combat helicopters from Turkey, it added.

The decrease in India's arms import is significant given that the volume of international transfers of major arms in 2014-18 was 7.8 per cent higher than in 2009-13 and 23 per cent higher than in 2004-2008.

The five largest exporters in 2014-18 were the United States, Russia, France, Germany and China. The five largest importers were Saudi Arabia, India, Egypt, Australia and Algeria.

The US was the top arms exporter in 2014-18 and 2009-13. Its exports of major arms grew by 29 per cent between the two periods and its share of total global exports rose from 30 per cent to 36 per cent. As a result, the gap between the USA and Russia - the second largest exporter - continued to widen.

In 2009-13, US exports of major arms were 12 per cent higher than those of Russia, whereas in 2014-18 they were 75 per cent higher.

Russian exports of major arms decreased by 17 per cent between the same periods.

The fall was partly due to general reductions in Indian and Venezuelan arms imports - two countries that have been among the main recipients of Russian arms exports in previous years, the SIPRI said.

"Although India remained the chief recipient of Russian arms in 2014-18, Russian arms exports to India fell by 42 per cent between 2014-18 and 2009-13. Arms exports to Venezuela, which was the fifth largest recipient of Russian arms in 2009-13, decreased by 96 per cent between the two periods," it said.

Russia's arms export to India fell by a whopping 42 per cent between 2014-18 and 2009-2013, according to a new report. As a result, Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013, according to the report "Trends in International Arms Transfers, 2018" released by the Stockholm International Peace Research Institute (SIPRI).

Russia's arms export to India fell by a whopping 42 per cent between 2014-18 and 2009-2013, according to a new report. As a result, Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013, according to the report "Trends in International Arms Transfers, 2018" released by the Stockholm International Peace Research Institute (SIPRI). In line with Prime Minister Narendra Modi's effort to reduce country's dependence on foreign arms, India's import of arms decreased by 24 per cent between 2009-2013 and 2014-2018, according to the figures released by the report. This decline in India's import is also partly due to delays in deliveries of arms produced under license from foreign suppliers, such as combat aircraft ordered from Russia in 2001 and submarines ordered from France in 2008. Still, India was the world's second largest importer of major arms in 2014-18 and accounted for 9.5 per cent of the global total. Israel, the USA and France all increased their arms exports to India in 2014-18. Pakistan's arms imports decreased by 39 per cent between 2009-13 and 2014-18. The US has become increasingly reluctant to provide military aid or sell arms to Pakistan. US arms exports to Pakistan fell by 81 per cent between 2009-13 and 2014-18, it said. Pakistan has instead turned to other suppliers. For example, in 2018 it ordered 4 frigates and 30 combat helicopters from Turkey, it added. The decrease in India's arms import is significant given that the volume of international transfers of major arms in 2014-18 was 7.8 per cent higher than in 2009-13 and 23 per cent higher than in 2004-2008. The five largest exporters in 2014-18 were the United States, Russia, France, Germany and China. The five largest importers were Saudi Arabia, India, Egypt, Australia and Algeria. The US was the top arms exporter in 2014-18 and 2009-13. Its exports of major arms grew by 29 per cent between the two periods and its share of total global exports rose from 30 per cent to 36 per cent. As a result, the gap between the USA and Russia - the second largest exporter - continued to widen. In 2009-13, US exports of major arms were 12 per cent higher than those of Russia, whereas in 2014-18 they were 75 per cent higher. Russian exports of major arms decreased by 17 per cent between the same periods. The fall was partly due to general reductions in Indian and Venezuelan arms imports - two countries that have been among the main recipients of Russian arms exports in previous years, the SIPRI said. "Although India remained the chief recipient of Russian arms in 2014-18, Russian arms exports to India fell by 42 per cent between 2014-18 and 2009-13. Arms exports to Venezuela, which was the fifth largest recipient of Russian arms in 2009-13, decreased by 96 per cent between the two periods," it said.

Russian arms exports to India fell by 42% between 2014-18 and 2009-13: Report

Top Asian rice exporting hubs India and Thailand were hit by slack demand with fresh overseas deals few and far between, while a booming harvest and stronger baht added further pressure on Thai markets.

In top exporter India, the benchmark 5 per cent broken parboiled variety was quoted around $378-$383 per tonne this week, down from last week's $380-$385 due to a depreciation in the rupee.

"Demand is modest. Prices are coming down due to a falling rupee," an exporter based at Kakinada in the southern state of Andhra Pradesh said.

The rupee is down about 2 per cent versus the dollar this year.

Meanwhile, in neighbouring Bangladesh, imports slowed to 137,000 tonnes in July-February due to the imposition of a tax on rice imports in June, food ministry data showed.

The south Asian country, which emerged as a major importer in 2017 after floods wrought havoc on local crops, imposed the 28 per cent duty to support its farmers after local production revived.

Bangladesh imported a record 3.9 million tonnes of rice in the 2017-2018 financial year that ended in June 2018.

In Vietnam, rates for 5 per cent broken rice rose to $345 a tonne from $340 last week.&nbsp;

"Prices have edged up a bit after the government said it is buying rice from farmers for stockpiling," a trader based in Ho Chi Minh City said.

The country's rice exports in January-February were forecast to fall 4.9 per cent from a year earlier to 788,000 tonne, the government's General Statistics Office said on Thursday. Revenue from rice exports in the period was expected to drop 17.5 per cent to $335 million.

February rice exports from Vietnam, the world's third-largest shipper of the grain after Thailand, totalled 350,000 tonnes, worth $140 million, the GSO said.

Thailand's benchmark 5 per cent broken rice prices marginally narrowed to $383-$398, free on board Bangkok from $383-$405 quoted last week.

Fresh supplies of rice entering the market have pushed prices slightly lower and demand remains flat, traders said.

"Exporters are selling the rice at a lower price but there are no major deals at the moment that (could) impact prices," a Bangkok-based trader said.

While exporters still anticipate large deals from the Philippines, the strength of the local currency against the dollar makes Thai rice export less competitive, traders said.

"New supply has helped lower the price but the strong baht and the lack of demand remains two worrying factors for exporters," another Bangkok-based rice trader said.

Top Asian rice exporting hubs India and Thailand were hit by slack demand with fresh overseas deals few and far between, while a booming harvest and stronger baht added further pressure on Thai markets.

Top Asian rice exporting hubs India and Thailand were hit by slack demand with fresh overseas deals few and far between, while a booming harvest and stronger baht added further pressure on Thai markets. In top exporter India, the benchmark 5 per cent broken parboiled variety was quoted around $378-$383 per tonne this week, down from last week's $380-$385 due to a depreciation in the rupee. "Demand is modest. Prices are coming down due to a falling rupee," an exporter based at Kakinada in the southern state of Andhra Pradesh said. The rupee is down about 2 per cent versus the dollar this year. Meanwhile, in neighbouring Bangladesh, imports slowed to 137,000 tonnes in July-February due to the imposition of a tax on rice imports in June, food ministry data showed. The south Asian country, which emerged as a major importer in 2017 after floods wrought havoc on local crops, imposed the 28 per cent duty to support its farmers after local production revived. Bangladesh imported a record 3.9 million tonnes of rice in the 2017-2018 financial year that ended in June 2018. In Vietnam, rates for 5 per cent broken rice rose to $345 a tonne from $340 last week. "Prices have edged up a bit after the government said it is buying rice from farmers for stockpiling," a trader based in Ho Chi Minh City said. The country's rice exports in January-February were forecast to fall 4.9 per cent from a year earlier to 788,000 tonne, the government's General Statistics Office said on Thursday. Revenue from rice exports in the period was expected to drop 17.5 per cent to $335 million. February rice exports from Vietnam, the world's third-largest shipper of the grain after Thailand, totalled 350,000 tonnes, worth $140 million, the GSO said. Thailand's benchmark 5 per cent broken rice prices marginally narrowed to $383-$398, free on board Bangkok from $383-$405 quoted last week. Fresh supplies of rice entering the market have pushed prices slightly lower and demand remains flat, traders said. "Exporters are selling the rice at a lower price but there are no major deals at the moment that (could) impact prices," a Bangkok-based trader said. While exporters still anticipate large deals from the Philippines, the strength of the local currency against the dollar makes Thai rice export less competitive, traders said. "New supply has helped lower the price but the strong baht and the lack of demand remains two worrying factors for exporters," another Bangkok-based rice trader said.

Rice demand dwindles in top Asian exporters; Thai rates hit by fresh supplies

New Delhi is in discussion with Beijing for an early announcement of Chinese import quotas for sugar and rice for 2019. The move will help Indian exporters plan their exports well in time for the current year.

India is also engaging with China for signing protocols for the export of Indian soybean meals, cakes and pomegranates to China in the near future, discussions for the same are advancing.&nbsp;

India's Department of Commerce has signed three protocols with China to ease the environment for Indian businesses in the world's second-largest economy.

In June 2018, a protocol on the export of Indian rice to China was signed during PM Modi's visit for the Shanghai Cooperation Organization (SCO) Summit in Qingdao. The agreement paved way for the export of Indian rice to China.

In November 2018, India and China signed a protocol for the export of Indian fishmeal/fish oil to China.

Last month, on January 21 and 22, both the countries renewed and signed the protocol on the export of Indian tobacco, making way for the exports of Indian tobacco to China.&nbsp;

The growth of Indian exports to China has been driven by marine products, organic chemicals, plastics, petroleum products, grapes and rice. Indian exports to China between April-December 2018 stood at $12.7 billion.

China and India have been keen on engaging bilaterally especially on the trade front. Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met four times last year. This year, the Chinese President will be visiting India for the second informal summit between the two countries. <a href="http://www.wionews.com/india-news/wuhan-was-a-milestone-pm-modi-president-xi-have-personal-connect-sushma-swaraj-185698">The first informal summit took place in Wuhan</a> in April 2018.

New Delhi is in discussion with Beijing for an early announcement of Chinese import quotas for sugar and rice for 2019. The move will help Indian exporters plan their exports well in time for the current year.

New Delhi is in discussion with Beijing for an early announcement of Chinese import quotas for sugar and rice for 2019. The move will help Indian exporters plan their exports well in time for the current year. India is also engaging with China for signing protocols for the export of Indian soybean meals, cakes and pomegranates to China in the near future, discussions for the same are advancing. India's Department of Commerce has signed three protocols with China to ease the environment for Indian businesses in the world's second-largest economy. In June 2018, a protocol on the export of Indian rice to China was signed during PM Modi's visit for the Shanghai Cooperation Organization (SCO) Summit in Qingdao. The agreement paved way for the export of Indian rice to China. In November 2018, India and China signed a protocol for the export of Indian fishmeal/fish oil to China. Last month, on January 21 and 22, both the countries renewed and signed the protocol on the export of Indian tobacco, making way for the exports of Indian tobacco to China. The growth of Indian exports to China has been driven by marine products, organic chemicals, plastics, petroleum products, grapes and rice. Indian exports to China between April-December 2018 stood at $12.7 billion. China and India have been keen on engaging bilaterally especially on the trade front. Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met four times last year. This year, the Chinese President will be visiting India for the second informal summit between the two countries. The first informal summit took place in Wuhan in April 2018.

India in talks with China for early announcement of Chinese import quotas

<a href="http://www.wionews.com/business-economy/oil-prices-jump-as-us-threatens-sanctions-against-venezuela-192607">Oil prices rose</a> for a third day on Thursday, pushed up by lower imports into the United States amid OPEC efforts to tighten the market, and as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation.

US West Texas Intermediate (WTI) crude futures were at $54.47 per barrel at 0758 GMT, up 24 cents, or 0.4 per cent, from their last settlement.

International Brent crude oil futures were up 36 cents, or 0.6 per cent, at $62.01 per barrel.

The price rise came after a report from the US Energy Information Administration (EIA) on Wednesday showed a drop in Saudi crude supply to the United States.

"Crude oil prices were stronger after signs emerged that OPEC cuts are impacting trade. EIA's weekly report showed that US imports from Saudi Arabia fell by more than half from the previous week to 442,000 barrels per day (bpd). This is the second lowest level in weekly data going back to 2010," ANZ bank said.

Saudi Arabia is the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-OPEC producers, including Russia, announced supply cuts late last year aimed at tightening the market and propping up prices.

US sanctions imposed on state-oil firm Petroleos de Venezuela SA (PDVSA) this week are also causing some supply disruptions.

Venezuela's oil inventories have started to build up at the country's ports and terminals as PDVSA is finding it cannot export crude at its usual rate due to US sanctions imposed earlier this week.

As of Wednesday, Venezuela had 25 tankers with nearly 18 million barrels of crude - representing about two weeks of the country's production - either waiting to load or expecting authorisation to set sail, shipping data showed.

Matt Stanley, a broker with Starfuels in Dubai, said the combination of US sanctions against oil producers Venezuela and Iran, the OPEC-led supply cuts, as well as hopes that the trade dispute between the United States and China could soon be resolved meant oil prices would likely rise further.

"There are just too many factors that can only cause the price to go one way and that is up," Stanley said.

Despite this, oil remains in ample supply, not least because of soaring US crude oil production, which jumped by more than 2 million bpd last year to a record 11.9 million bpd.

This shows in high US commercial crude oil stockpiles, which rose by 919,000 barrels in the week to January 25, to 445.94 million barrels, EIA data showed. Stockpiles are 6.6 per cent higher than a year ago.

Oil prices rose for a third day on Thursday, pushed up by lower imports into the United States amid OPEC efforts to tighten the market, and as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation.

Oil prices rose for a third day on Thursday, pushed up by lower imports into the United States amid OPEC efforts to tighten the market, and as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation. US West Texas Intermediate (WTI) crude futures were at $54.47 per barrel at 0758 GMT, up 24 cents, or 0.4 per cent, from their last settlement. International Brent crude oil futures were up 36 cents, or 0.6 per cent, at $62.01 per barrel. The price rise came after a report from the US Energy Information Administration (EIA) on Wednesday showed a drop in Saudi crude supply to the United States. "Crude oil prices were stronger after signs emerged that OPEC cuts are impacting trade. EIA's weekly report showed that US imports from Saudi Arabia fell by more than half from the previous week to 442,000 barrels per day (bpd). This is the second lowest level in weekly data going back to 2010," ANZ bank said. Saudi Arabia is the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-OPEC producers, including Russia, announced supply cuts late last year aimed at tightening the market and propping up prices. US sanctions imposed on state-oil firm Petroleos de Venezuela SA (PDVSA) this week are also causing some supply disruptions. Venezuela's oil inventories have started to build up at the country's ports and terminals as PDVSA is finding it cannot export crude at its usual rate due to US sanctions imposed earlier this week. As of Wednesday, Venezuela had 25 tankers with nearly 18 million barrels of crude - representing about two weeks of the country's production - either waiting to load or expecting authorisation to set sail, shipping data showed. Matt Stanley, a broker with Starfuels in Dubai, said the combination of US sanctions against oil producers Venezuela and Iran, the OPEC-led supply cuts, as well as hopes that the trade dispute between the United States and China could soon be resolved meant oil prices would likely rise further. "There are just too many factors that can only cause the price to go one way and that is up," Stanley said. Despite this, oil remains in ample supply, not least because of soaring US crude oil production, which jumped by more than 2 million bpd last year to a record 11.9 million bpd. This shows in high US commercial crude oil stockpiles, which rose by 919,000 barrels in the week to January 25, to 445.94 million barrels, EIA data showed. Stockpiles are 6.6 per cent higher than a year ago.

Oil prices rise on Saudi cuts to US; Venezuela struggles to keep up exports

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday.

Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion.

China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month.

Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion. China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month. Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea falls 51% in 2018

Pakistan's volume of exports would increase to around US $27 billion in 2019, a top financial advisor to Prime Minister Imran Khan has said.

The Imran Khan led government is facing increasing pressure for rising inflation, new taxes and an overall struggling economic picture since coming into power last year after the general elections.

Adviser to Khan for Commerce, Textile and Industry Production Abdul Razak Dawood said that the target of exports the government had set by the year end was around US $27 billion.

"This year we will achieve the target of setting a new record for highest exports from Pakistan and we are looking at around US $27 billion of exports,"&nbsp;Dawood said at an Edible oil conference here on Saturday.

The government is due to announce a mini-budget on January 23 in the National Assembly, which could bring more taxes and duties for the consumers and importers.

Stating that reducing imports was vital for economic growth, Dawood said the government is focusing on increasing the volume of exports in 2019.

Official data by State Bank of Pakistan shows that total exports have yielded US $11.5 billion in the first half of the current fiscal year which means another target of US $15.5 billion has to come in the remaining months of the fiscal year.

Dawood said that the government was formulating a strategy to increase exports this year and added that the figures for December 2018 were much better than December 2017.

"We have achieved success in acquiring a one billion dollar market in China for export of sugar and rice,"&nbsp;he said.

Dawood admitted that one of the biggest challenges facing the country was current account deficit and the government was taking steps to resolve this.

He said the people would hear good news soon as the country's economy was headed for improvement despite the difficulties.

Dawood said that as opposed to the past when the country was asking China for infrastructure projects under the China Pakistan Economic Corridor (CPEC), "we (current Government) are asking them for agricultural input".

"We are pursuing an export-led growth strategy," he said.&nbsp;

Pakistan's volume of exports would increase to around US $27 billion in 2019, a top financial advisor to Prime Minister Imran Khan has said. The Imran Khan led government is facing increasing pressure for rising inflation, new taxes and an overall struggling economic picture since coming into power last year after the general elections.

Pakistan's volume of exports would increase to around US $27 billion in 2019, a top financial advisor to Prime Minister Imran Khan has said. The Imran Khan led government is facing increasing pressure for rising inflation, new taxes and an overall struggling economic picture since coming into power last year after the general elections. Adviser to Khan for Commerce, Textile and Industry Production Abdul Razak Dawood said that the target of exports the government had set by the year end was around US $27 billion. "This year we will achieve the target of setting a new record for highest exports from Pakistan and we are looking at around US $27 billion of exports," Dawood said at an Edible oil conference here on Saturday. The government is due to announce a mini-budget on January 23 in the National Assembly, which could bring more taxes and duties for the consumers and importers. Stating that reducing imports was vital for economic growth, Dawood said the government is focusing on increasing the volume of exports in 2019. Official data by State Bank of Pakistan shows that total exports have yielded US $11.5 billion in the first half of the current fiscal year which means another target of US $15.5 billion has to come in the remaining months of the fiscal year. Dawood said that the government was formulating a strategy to increase exports this year and added that the figures for December 2018 were much better than December 2017. "We have achieved success in acquiring a one billion dollar market in China for export of sugar and rice," he said. Dawood admitted that one of the biggest challenges facing the country was current account deficit and the government was taking steps to resolve this. He said the people would hear good news soon as the country's economy was headed for improvement despite the difficulties. Dawood said that as opposed to the past when the country was asking China for infrastructure projects under the China Pakistan Economic Corridor (CPEC), "we (current Government) are asking them for agricultural input". "We are pursuing an export-led growth strategy," he said.

Pakistan's exports to hit US $27 billion in 2019: Official

The country's exports growth remained almost flat at $27.93 billion in December 2018, mainly on account of global trade tensions.

According to trade data released by the commerce ministry, exports grew at the slowest pace in three months at 0.34 per cent in December, while imports entered a negative zone, registering a decline of 2.44 per cent to $41 billion.

Declining imports have narrowed the trade deficit to a ten-month low of $13.08 billion in December 2018 as against $14.2 billion in the same month the previous year.

Last time, imports had plunged into negative territory in September 2016. It was dipped by 2.54 per cent then.

The import of gold too contracted by 24.33 per cent to $2.56 billion in December 2018.

During the month under review, several key export sectors recorded negative growth. It includes engineering goods, gems and jewellery, leather, pharmaceuticals, marine products, iron ore, tea and coffee.

Commenting on the figures, exporters body FIEO said that the marginal growth in exports was due to uncertain global cues and challenges on the domestic front.

"China's exports contracted in December 2018, highlighting fragile global conditions. The weak global economic outlook is showing no signs of respite," Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said.

Engineering Export Promotion Council (EEPC) Chairman Ravi Sehgal too said the unfolding global situation comprises not only problems on account of trade tensions between China and the US, but also other issues like uncertainty over Brexit fall-out in the European markets.

"The situation certainly calls for a major rethink and redrawing of our export strategy," he said.

However, cumulatively during April-December, this fiscal, exports grew by 10.18 per cent to $245.44 billion. Imports rose by 12.61 per cent to USD 386.65 billion.

The trade deficit widened to $141.2 billion during the nine months of the current fiscal from $120.57 billion in April-December 2017-18.

Oil imports in December 2018 rose by 3.16 per cent to $10.67 billion. During April-December this fiscal, imports grew by 42.85 per cent to $108.10 billion.

Non-oil imports during the nine-month period of the fiscal increased by 4.06 per cent to $278.54 billion.

The country's exports growth remained almost flat at $27.93 billion in December 2018, mainly on account of global trade tensions. According to trade data released by the commerce ministry, exports grew at the slowest pace in three months at 0.

The country's exports growth remained almost flat at $27.93 billion in December 2018, mainly on account of global trade tensions. According to trade data released by the commerce ministry, exports grew at the slowest pace in three months at 0.34 per cent in December, while imports entered a negative zone, registering a decline of 2.44 per cent to $41 billion. Declining imports have narrowed the trade deficit to a ten-month low of $13.08 billion in December 2018 as against $14.2 billion in the same month the previous year. Last time, imports had plunged into negative territory in September 2016. It was dipped by 2.54 per cent then. The import of gold too contracted by 24.33 per cent to $2.56 billion in December 2018. During the month under review, several key export sectors recorded negative growth. It includes engineering goods, gems and jewellery, leather, pharmaceuticals, marine products, iron ore, tea and coffee. Commenting on the figures, exporters body FIEO said that the marginal growth in exports was due to uncertain global cues and challenges on the domestic front. "China's exports contracted in December 2018, highlighting fragile global conditions. The weak global economic outlook is showing no signs of respite," Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said. Engineering Export Promotion Council (EEPC) Chairman Ravi Sehgal too said the unfolding global situation comprises not only problems on account of trade tensions between China and the US, but also other issues like uncertainty over Brexit fall-out in the European markets. "The situation certainly calls for a major rethink and redrawing of our export strategy," he said. However, cumulatively during April-December, this fiscal, exports grew by 10.18 per cent to $245.44 billion. Imports rose by 12.61 per cent to USD 386.65 billion. The trade deficit widened to $141.2 billion during the nine months of the current fiscal from $120.57 billion in April-December 2017-18. Oil imports in December 2018 rose by 3.16 per cent to $10.67 billion. During April-December this fiscal, imports grew by 42.85 per cent to $108.10 billion. Non-oil imports during the nine-month period of the fiscal increased by 4.06 per cent to $278.54 billion.

Exports flat in December 2018; trade deficit narrows to 10-month low 

<a href="http://www.wionews.com/business-economy/wall-street-stocks-slide-on-china-slowdown-us-earnings-report-190321">China will aim </a>to achieve "a good start" in the first quarter for the economy, the state planner said on Tuesday, signalling authorities could roll out more stimulus measures in the near term to counter slowing growth.

<a href="http://www.wionews.com/business-economy/wall-street-stocks-slide-on-china-slowdown-us-earnings-report-190321">China will strengthen monitoring of its economic situation</a> and improve its "reserve" of economic policies, the National Development and Reform Commission (NDRC) said in a statement.

The world's second-biggest economy slowed in 2018 as Chinese authorities carried out painful long-term structural adjustments to transition to a more gradual but sustainable growth trajectory.

A trade war with the United States has also heaped uncertainty on China's near-term outlook. Exports unexpectedly fell the most in two years in December in a sign of mounting pressure on the economy.

Premier Li Keqiang said China achieved its key 2018 economic targets, which were "hard-worn", and seeks a strong start to the economy in the first quarter to establish conditions helpful to meeting this year's goals, according to state television on Monday.

Sources told Reuters last week that Beijing was planning to lower its growth target to 6-6.5 per cent this year after an expected 6.6 per cent in 2018, the slowest pace in 28 years.

The proposed target, to be unveiled at the annual parliamentary session in March, was endorsed by top leaders at the annual closed-door Central Economic Work Conference in mid-December, the sources told Reuters.

Annual growth of about 6.2 per cent is needed this year and in 2020 to meet the ruling Communist Party's longstanding goal of doubling gross domestic product and incomes in the decade to 2020, and to turn China into a "modestly prosperous" nation.

China has lowered the level of reserves that commercial banks need to set aside for the fifth time in a year, to spur lending, particularly to small and medium-sized firms. Beijing has also cut taxes and fees and stepped up infrastructure investment to shore up the economy.

This year, China will step up fiscal expenditure and implement larger tax and fee cuts. The cuts will focus on reducing burdens for small firms and manufacturers, the finance ministry said in a statement on Tuesday.

Stabilising employment is the government's top priority, NDRC Vice Chairman Lian Weiliang said at a press conference on Tuesday.

NO FLOOD OF STIMULUS

China will speed up investment projects and local government bond issuances, but will not resort to "flood-like" stimulus, Lian said.

The central bank, in a separate statement, said it will maintain prudent monetary policy, keeping it neither too tight nor too loose and strengthen the counter-cyclical adjustments.

Monetary policy will be made more forward-looking, flexible and targeted, the People's Bank of China (PBOC) said.

A prudent monetary policy does not mean that there will be no changes, PBOC Deputy Governor Zhu Hexin said at the press conference.

When asked if the PBOC should cut benchmark interest rates, Zhu said existing monetary policy measures should be improved.

A few analysts believe interest rate cuts are a possibility, but most expect Beijing will refrain from massive stimulus measures like those deployed in the past, due to worries that it could add to a mountain of debt and weaken the yuan.

"Both fiscal and monetary policy have been loosened over the past few months and this should start to feed through to the real economy by the second half of this year," analysts at Capital Economics said in a note.

"However, the scale of the stimulus so far has been more limited than in 2015-16, and the effect on activity is likely to be correspondingly smaller."

Chinese banks extended 16.17 trillion yuan ($2.40 trillion) in net new yuan loans last year, the PBOC said in its statement, blowing past the previous record of 13.53 trillion yuan in 2017.

Outstanding yuan loans were up 13.5 per cent at the end of 2018 from a year earlier, according to the central bank.

China will strengthen monitoring of its economic situation and improve its 'reserve' of economic policies, the National Development and Reform Commission (NDRC) said in a statement.

China will aim to achieve "a good start" in the first quarter for the economy, the state planner said on Tuesday, signalling authorities could roll out more stimulus measures in the near term to counter slowing growth. China will strengthen monitoring of its economic situation and improve its "reserve" of economic policies, the National Development and Reform Commission (NDRC) said in a statement. The world's second-biggest economy slowed in 2018 as Chinese authorities carried out painful long-term structural adjustments to transition to a more gradual but sustainable growth trajectory. A trade war with the United States has also heaped uncertainty on China's near-term outlook. Exports unexpectedly fell the most in two years in December in a sign of mounting pressure on the economy. Premier Li Keqiang said China achieved its key 2018 economic targets, which were "hard-worn", and seeks a strong start to the economy in the first quarter to establish conditions helpful to meeting this year's goals, according to state television on Monday. Sources told Reuters last week that Beijing was planning to lower its growth target to 6-6.5 per cent this year after an expected 6.6 per cent in 2018, the slowest pace in 28 years. The proposed target, to be unveiled at the annual parliamentary session in March, was endorsed by top leaders at the annual closed-door Central Economic Work Conference in mid-December, the sources told Reuters. Annual growth of about 6.2 per cent is needed this year and in 2020 to meet the ruling Communist Party's longstanding goal of doubling gross domestic product and incomes in the decade to 2020, and to turn China into a "modestly prosperous" nation. China has lowered the level of reserves that commercial banks need to set aside for the fifth time in a year, to spur lending, particularly to small and medium-sized firms. Beijing has also cut taxes and fees and stepped up infrastructure investment to shore up the economy. This year, China will step up fiscal expenditure and implement larger tax and fee cuts. The cuts will focus on reducing burdens for small firms and manufacturers, the finance ministry said in a statement on Tuesday. Stabilising employment is the government's top priority, NDRC Vice Chairman Lian Weiliang said at a press conference on Tuesday. NO FLOOD OF STIMULUS China will speed up investment projects and local government bond issuances, but will not resort to "flood-like" stimulus, Lian said. The central bank, in a separate statement, said it will maintain prudent monetary policy, keeping it neither too tight nor too loose and strengthen the counter-cyclical adjustments. Monetary policy will be made more forward-looking, flexible and targeted, the People's Bank of China (PBOC) said. A prudent monetary policy does not mean that there will be no changes, PBOC Deputy Governor Zhu Hexin said at the press conference. When asked if the PBOC should cut benchmark interest rates, Zhu said existing monetary policy measures should be improved. A few analysts believe interest rate cuts are a possibility, but most expect Beijing will refrain from massive stimulus measures like those deployed in the past, due to worries that it could add to a mountain of debt and weaken the yuan. "Both fiscal and monetary policy have been loosened over the past few months and this should start to feed through to the real economy by the second half of this year," analysts at Capital Economics said in a note. "However, the scale of the stimulus so far has been more limited than in 2015-16, and the effect on activity is likely to be correspondingly smaller." Chinese banks extended 16.17 trillion yuan ($2.40 trillion) in net new yuan loans last year, the PBOC said in its statement, blowing past the previous record of 13.53 trillion yuan in 2017. Outstanding yuan loans were up 13.5 per cent at the end of 2018 from a year earlier, according to the central bank.

China signals more stimulus as economic slowdown deepens

Pakistan on Thursday issued the revised lists of goods, technologies and equipment related to nuclear and biological weapons that needed official permission for exports.

The list was issued under the Export Control Act of 2004, which enables the government to control export, re-export, trans-shipment and transit of goods, technologies, material and equipment related to nuclear and biological weapons and their delivery systems, the Foreign Office said in a statement.

"Pursuant to the export control on goods, technologies, material and equipment related to Nuclear and Biological Weapons and their Delivery systems Act 2004, the Government of Pakistan has notified revised control lists of goods, technologies, material and equipment that are subject to SECDIV license for export,"&nbsp;the statement said.

The FO also said that as part of regular review process, the Strategic Export Control Division (SECDIV) of the Ministry of Foreign Affairs revised and updated the control lists, in consultation with other relevant ministries and departments.

The lists were originally notified in 2005 and subsequently revised in 2011, 2015 and 2016.

The FO said the revised control lists were harmonised with the standards and lists of international export control regimes ie The Nuclear Suppliers Group, the Missile Technology Control Regimes and the Australia Group.

It incorporates the latest changes and updates made by these export control regimes.

The notification signifies the continuing resolve and policy of Pakistan as a responsible nuclear state to advance the shared goals of non-proliferation and strictly adhere to its commitments, the FO said.&nbsp;

Pakistan on Thursday issued the revised lists of goods, technologies and equipment related to nuclear and biological weapons that needed official permission for exports.

Pakistan on Thursday issued the revised lists of goods, technologies and equipment related to nuclear and biological weapons that needed official permission for exports. The list was issued under the Export Control Act of 2004, which enables the government to control export, re-export, trans-shipment and transit of goods, technologies, material and equipment related to nuclear and biological weapons and their delivery systems, the Foreign Office said in a statement. "Pursuant to the export control on goods, technologies, material and equipment related to Nuclear and Biological Weapons and their Delivery systems Act 2004, the Government of Pakistan has notified revised control lists of goods, technologies, material and equipment that are subject to SECDIV license for export," the statement said. The FO also said that as part of regular review process, the Strategic Export Control Division (SECDIV) of the Ministry of Foreign Affairs revised and updated the control lists, in consultation with other relevant ministries and departments. The lists were originally notified in 2005 and subsequently revised in 2011, 2015 and 2016. The FO said the revised control lists were harmonised with the standards and lists of international export control regimes ie The Nuclear Suppliers Group, the Missile Technology Control Regimes and the Australia Group. It incorporates the latest changes and updates made by these export control regimes. The notification signifies the continuing resolve and policy of Pakistan as a responsible nuclear state to advance the shared goals of non-proliferation and strictly adhere to its commitments, the FO said.

Pakistan issues export control list of goods, technologies related to nuclear, biological weapons

India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion due to dip in shipments in key sectors including engineering and gems and jewellery even though trade deficit narrowed to a five-month low.

Imports in September grew by 10.45 per cent to $41.9 billion, according to the commerce ministry data released Monday.

The trade deficit, or the gap between imports and exports, narrowed to $13.98 billion in the last month as against $9.4 billion in September 2017.

Besides engineering and gems and jewellery, shipments of tea, coffee, rice, cashew, leather, textiles, carpet and handicrafts also declined in September 2018.

Oil imports in September rose by 33.59 per cent to $10.91 billion. In April-September this fiscal, the imports increased by 50 per cent to $69.73 billion.

Similarly, non-oil imports in September grew by 4.11 per cent to $31.02 billion. It recorded a growth of 7.21 per cent to $188.63 billion during the first six months of this fiscal.

During April-September 2018-19, exports recorded a growth of 12.54 per cent to $164 billion. Imports during the period rose by 16.16 per cent to $258.36 billion, leaving a trade deficit of $94.32 billion in the first half of the current fiscal.&nbsp;

Exports were on the rise since April, after declining by 0.66 per cent in March 2018.&nbsp;

Commenting on the data, Commerce Secretary Anup Wadhawan said that the decline is mainly on account of the base effect as exports showed an increase of 26 per cent in the year-ago month.

"This is a temporary kind of phenomena. In October, we will again see good growth in dollar terms," he told reporters here.&nbsp;

He also expressed hope that the double-digit growth in the first sic months of the fiscal would continue.&nbsp;

Exports grew in a healthy manner in the first six months of this fiscal even in the difficult circumstances, he said, adding the trend is expected to be maintained in the remaining half of the fiscal.

Federation of Indian Export Organisation (FIEO) President Ganesh Gupta said that the negative growth in September is primarily due to high base effect last year.

The high growth witnessed in plastic and linoleum products, organic and inorganic chemicals, petroleum goods and pharma, are positive signs for future exports opined, Gupta said in a statement.

CII President Rakesh Bharti Mittal said that export growth in the first half-year of the current fiscal is encouraging as it comes within an increasingly challenging global environment.

Rupee which has an impact on the country's trade, Monday snapped its three-session gaining streak to end 26 paise lower at 73.83 against the US dollar.&nbsp;

Gold imports in September grew by 51.5 per cent to $2.6 billion as against $1.7 billion in the same month last year.

Rating agency ICR said that the sharper depreciation of the rupee relative to some emerging market peers, is likely to positively impact exports in certain sectors, including apparels, in the second half of the fiscal.&nbsp;

"Despite this, as well as the measures unveiled so far by the Government to curtail non-essential imports, we will not be surprised if the merchandise trade deficit rebounds above $17.5 billion in October," it added.

India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion due to dip in shipments in key sectors including engineering and gems and jewellery even though trade deficit narrowed to a five-month low.

India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion due to dip in shipments in key sectors including engineering and gems and jewellery even though trade deficit narrowed to a five-month low. Imports in September grew by 10.45 per cent to $41.9 billion, according to the commerce ministry data released Monday. The trade deficit, or the gap between imports and exports, narrowed to $13.98 billion in the last month as against $9.4 billion in September 2017. Besides engineering and gems and jewellery, shipments of tea, coffee, rice, cashew, leather, textiles, carpet and handicrafts also declined in September 2018. Oil imports in September rose by 33.59 per cent to $10.91 billion. In April-September this fiscal, the imports increased by 50 per cent to $69.73 billion. Similarly, non-oil imports in September grew by 4.11 per cent to $31.02 billion. It recorded a growth of 7.21 per cent to $188.63 billion during the first six months of this fiscal. During April-September 2018-19, exports recorded a growth of 12.54 per cent to $164 billion. Imports during the period rose by 16.16 per cent to $258.36 billion, leaving a trade deficit of $94.32 billion in the first half of the current fiscal. Exports were on the rise since April, after declining by 0.66 per cent in March 2018. Commenting on the data, Commerce Secretary Anup Wadhawan said that the decline is mainly on account of the base effect as exports showed an increase of 26 per cent in the year-ago month. "This is a temporary kind of phenomena. In October, we will again see good growth in dollar terms," he told reporters here. He also expressed hope that the double-digit growth in the first sic months of the fiscal would continue. Exports grew in a healthy manner in the first six months of this fiscal even in the difficult circumstances, he said, adding the trend is expected to be maintained in the remaining half of the fiscal. Federation of Indian Export Organisation (FIEO) President Ganesh Gupta said that the negative growth in September is primarily due to high base effect last year. The high growth witnessed in plastic and linoleum products, organic and inorganic chemicals, petroleum goods and pharma, are positive signs for future exports opined, Gupta said in a statement. CII President Rakesh Bharti Mittal said that export growth in the first half-year of the current fiscal is encouraging as it comes within an increasingly challenging global environment. Rupee which has an impact on the country's trade, Monday snapped its three-session gaining streak to end 26 paise lower at 73.83 against the US dollar. Gold imports in September grew by 51.5 per cent to $2.6 billion as against $1.7 billion in the same month last year. Rating agency ICR said that the sharper depreciation of the rupee relative to some emerging market peers, is likely to positively impact exports in certain sectors, including apparels, in the second half of the fiscal. "Despite this, as well as the measures unveiled so far by the Government to curtail non-essential imports, we will not be surprised if the merchandise trade deficit rebounds above $17.5 billion in October," it added.

Exports enter negative zone, dips 2.1% in September

India's 2017/18 cotton exports are likely to jump nearly 30 per cent from the year before to a four-year high of 7.5 million bales, as climbing global prices and a weaker rupee boost overseas demand, the head of an industry body told Reuters.

Increased supply from India could drag on a rally in international prices&nbsp;for the commodity&nbsp;and would likely compete with shipments to&nbsp;Asia&nbsp;from exporters like the United States, Brazil and Australia.

"We can end the season with exports of 7.5 million bales," said Atul Ganatra, president of the Cotton Association of India (CAI), adding that higher international prices would drive up shipments.

The country has exported 6.3 million bales so far in the marketing year that started on October 1, he added. Each bale contains 170 kg of cotton.

India shipped 5.82 million bales of cotton overseas last marketing year, according to data compiled by the state-run textile commissioner's office.

ICE cotton futures hit four-year highs earlier this week on buying from Chinese hedge funds, amid expectations of an increase in exports from the United States after trade war fears with China receded.

The Indian rupee has fallen more than 6 per cent in 2018, making Indian cotton cheaper for overseas buyers, said Nayan&nbsp;Mirani, partner at leading&nbsp;cotton&nbsp;exporter Khimji Visram & Sons.

"There is export demand but the supply of good quality cotton is limited as the season is coming to an end," he said.

Pakistan, Bangladesh, China and Vietnam are the main buyers of Indian fibre.

Indian cotton is being offered around 84 to 86 cents per lb on a cost and freight basis (C&F) to buyers in Bangladesh and Vietnam, compared to over 92 cents from the United States and Brazil, said a Mumbai-based dealer with a global trading firm. He declined to be identified as he was not authorised to speak with media.

Meanwhile, the country's cotton imports could drop to 1.2 million bales in 2017/18 from 3 million bales the year before, said Ganatra at CAI.

The&nbsp;South&nbsp;Asian country usually imports long staple cotton from the United States and Egypt.

And a pick-up in local consumption amid higher exports is likely to erode India's cotton stockpile, Mirani said.

India's cotton consumption is likely to rise 5.3 per cent in 2017/18 from the year before to 32.4 million bales, CAI estimates.

The country could end the 2017/18 season with closing stocks of less than 2 million tonnes, the lowest in decades, Ganatra estimates.

The country has exported 6.3 million bales so far in the marketing year that started on October 1, each bale contains 170 kg of cotton

India's 2017/18 cotton exports are likely to jump nearly 30 per cent from the year before to a four-year high of 7.5 million bales, as climbing global prices and a weaker rupee boost overseas demand, the head of an industry body told Reuters. Increased supply from India could drag on a rally in international prices for the commodity and would likely compete with shipments to Asia from exporters like the United States, Brazil and Australia. "We can end the season with exports of 7.5 million bales," said Atul Ganatra, president of the Cotton Association of India (CAI), adding that higher international prices would drive up shipments. The country has exported 6.3 million bales so far in the marketing year that started on October 1, he added. Each bale contains 170 kg of cotton. India shipped 5.82 million bales of cotton overseas last marketing year, according to data compiled by the state-run textile commissioner's office. ICE cotton futures hit four-year highs earlier this week on buying from Chinese hedge funds, amid expectations of an increase in exports from the United States after trade war fears with China receded. The Indian rupee has fallen more than 6 per cent in 2018, making Indian cotton cheaper for overseas buyers, said Nayan Mirani, partner at leading cotton exporter Khimji Visram & Sons. "There is export demand but the supply of good quality cotton is limited as the season is coming to an end," he said. Pakistan, Bangladesh, China and Vietnam are the main buyers of Indian fibre. Indian cotton is being offered around 84 to 86 cents per lb on a cost and freight basis (C&F) to buyers in Bangladesh and Vietnam, compared to over 92 cents from the United States and Brazil, said a Mumbai-based dealer with a global trading firm. He declined to be identified as he was not authorised to speak with media. Meanwhile, the country's cotton imports could drop to 1.2 million bales in 2017/18 from 3 million bales the year before, said Ganatra at CAI. The South Asian country usually imports long staple cotton from the United States and Egypt. And a pick-up in local consumption amid higher exports is likely to erode India's cotton stockpile, Mirani said. India's cotton consumption is likely to rise 5.3 per cent in 2017/18 from the year before to 32.4 million bales, CAI estimates. The country could end the 2017/18 season with closing stocks of less than 2 million tonnes, the lowest in decades, Ganatra estimates.

India's cotton exports could hit four-year high on price rally, weak rupee

US sanctions on Russian military exports have put the brakes on a $6 billion deal with India and may derail the arms purchases of other US allies around Asia, experts say.

Under a law that US President Donald Trump signed in August, any country trading with Russia's defence and intelligence sectors will face sanctions.

The law is designed to punish Russian President Vladimir Putin for the 2014 annexation of Crimea from Ukraine, involvement in the Syrian civil war and meddling in the 2016 US presidential election.

But American allies who buy weapons and equipment from Russia, the world's second-largest arms exporter, could suffer as well.

The highest-profile example is India, which wants to buy five S-400 long-range surface-to-air missile systems that the country's military sees as a game changer. The systems are touted as being able to counter the ballistic missiles and stealth aircraft that China is developing while overwhelming the capabilities of Pakistan, India's other main adversary.

The deal, which Putin and Indian Prime Minister Narendra Modi struck as part of an inter-government agreement in 2016, has run headlong into the US sanctions law, two officials in Delhi said.

Indonesia and Vietnam also buy weapons from Russia while being regional partners of the United States. Jakarta closed a $1.14 billion pact for Sukhoi fighters recently, while Vietnam is seeking more jet fighter-bombers from Russia.

And with both Almaz-Antey Air and Space Defense Corporation, which makes the S-400, and Rosoboronexport, which negotiates Russian export deals, listed as under sanction, those deals have become trickier.

"The optics of a major arms purchase from Russia looks quite 'iffy' from the point of view of Western capitals, especially at a time when Russia-West relations are at an all-time low and India seeks strategic convergence with the West, including with the US" said Abhijnan Rej, a defence strategy expert at Observer Research Foundation, a New Delhi think tank.

The US-led airstrikes this month against facilities of the Syrian government, an ally of Russia, has further aggravated tensions between the superpowers.

A Russian source close to the Indian S-400 deal said: "a lot will depend on the confidence and sanity of our Indian partners."

Wider impact

The effects of the US sanctions law could be more sweeping than intended, said Cara Abercrombie, a visiting scholar at the Carnegie Endowment for International Peace.

Vietnam, whose air force flies Russian-made Su-30 fighters and uses the S-300 air defence system, wants to continue modernising its inventory.

Vietnamese military scholar Carl Thayer said he believed Moscow was still pushing Hanoi to invest in state-of-the-art S-400 missile defences as part of its long-term military plans.

"I think it is clear that Russia is still pressing Vietnam for big deals," Thayer said, noting that the two countries already have had reciprocal visits by defence ministers this year.

But with the United States working hard to promote sales of American military hardware, and sanctions against Russia's exporting agencies, Vietnam's plans could prove overly costly. 
Indonesia, meanwhile, said the delivery of the first couple of Sukhoi Su-35 jets out of a total of 11 is on track for this year. Officials said that so far they did not anticipate any changes to the deal with the Russians.

Indonesian defence officials declined to describe what, if anything, they might do to tackle the fallout of the sanctions imposed on Russian arms sales.

A thorny problem

Indian foreign secretary Vijay Gokhale and defence secretary Sanjay Mitra held discussions with US officials in Washington last month to try to find a solution, a second Indian official said.

The issue is crucial to the Indian military, because without Russian parts, supplies and maintenance help, "our ships won't sail, our planes won't fly," the official said. "We can hardly be the regional security provider that America wants us to be at this rate."

One way to avoid secondary sanctions would be if the US determines that India is reducing its dependence on Russian arms, said Atman Trivedi, managing director of Hills & Company, a Washington-based firm that advises on international trade and investment.

Russian hardware represented 62 percent of the country's total weapons imports during the past five years, compared with 79 percent in 2008-2012, the Stockholm Peace Research Institute said in a report last month.

The US administration could also declare that imposing sanctions on India, a major defence partner, would hurt US national security interests. That would allow a waiver permitting India to do business with Russia.

The United States has emerged as India's No. 2 weapons supplier, closing $15 billion worth of deals over the last decade. Now Lockheed Martin and Boeing are leading the race to provide India with a fleet of new fighter-bombers, one of the world's largest open tenders.

"The intent of the legislation was never to disrupt US-India defence relations, which Congress has repeatedly recognised in law as a strategic priority to the US," said Benjamin Schwartz, aerospace and defence head at the United States India Business Council.

Abercrombie of Carnegie added that if Congress grants waivers to India, it may also need to do so for other countries such as Vietnam and Indonesia.

"The bottom line: India warrants an exemption from these secondary sanctions, as does any country with which the US is forging new and strategically important defence relations," she said.

India wants to buy five S-400 long-range surface-to-air missile systems that the country's military sees as a game changer.

US sanctions on Russian military exports have put the brakes on a $6 billion deal with India and may derail the arms purchases of other US allies around Asia, experts say. Under a law that US President Donald Trump signed in August, any country trading with Russia's defence and intelligence sectors will face sanctions. The law is designed to punish Russian President Vladimir Putin for the 2014 annexation of Crimea from Ukraine, involvement in the Syrian civil war and meddling in the 2016 US presidential election. But American allies who buy weapons and equipment from Russia, the world's second-largest arms exporter, could suffer as well. The highest-profile example is India, which wants to buy five S-400 long-range surface-to-air missile systems that the country's military sees as a game changer. The systems are touted as being able to counter the ballistic missiles and stealth aircraft that China is developing while overwhelming the capabilities of Pakistan, India's other main adversary. The deal, which Putin and Indian Prime Minister Narendra Modi struck as part of an inter-government agreement in 2016, has run headlong into the US sanctions law, two officials in Delhi said. Indonesia and Vietnam also buy weapons from Russia while being regional partners of the United States. Jakarta closed a $1.14 billion pact for Sukhoi fighters recently, while Vietnam is seeking more jet fighter-bombers from Russia. And with both Almaz-Antey Air and Space Defense Corporation, which makes the S-400, and Rosoboronexport, which negotiates Russian export deals, listed as under sanction, those deals have become trickier. "The optics of a major arms purchase from Russia looks quite 'iffy' from the point of view of Western capitals, especially at a time when Russia-West relations are at an all-time low and India seeks strategic convergence with the West, including with the US" said Abhijnan Rej, a defence strategy expert at Observer Research Foundation, a New Delhi think tank. The US-led airstrikes this month against facilities of the Syrian government, an ally of Russia, has further aggravated tensions between the superpowers. A Russian source close to the Indian S-400 deal said: "a lot will depend on the confidence and sanity of our Indian partners." Wider impact The effects of the US sanctions law could be more sweeping than intended, said Cara Abercrombie, a visiting scholar at the Carnegie Endowment for International Peace. Vietnam, whose air force flies Russian-made Su-30 fighters and uses the S-300 air defence system, wants to continue modernising its inventory. Vietnamese military scholar Carl Thayer said he believed Moscow was still pushing Hanoi to invest in state-of-the-art S-400 missile defences as part of its long-term military plans. "I think it is clear that Russia is still pressing Vietnam for big deals," Thayer said, noting that the two countries already have had reciprocal visits by defence ministers this year. But with the United States working hard to promote sales of American military hardware, and sanctions against Russia's exporting agencies, Vietnam's plans could prove overly costly. Indonesia, meanwhile, said the delivery of the first couple of Sukhoi Su-35 jets out of a total of 11 is on track for this year. Officials said that so far they did not anticipate any changes to the deal with the Russians. Indonesian defence officials declined to describe what, if anything, they might do to tackle the fallout of the sanctions imposed on Russian arms sales. A thorny problem Indian foreign secretary Vijay Gokhale and defence secretary Sanjay Mitra held discussions with US officials in Washington last month to try to find a solution, a second Indian official said. The issue is crucial to the Indian military, because without Russian parts, supplies and maintenance help, "our ships won't sail, our planes won't fly," the official said. "We can hardly be the regional security provider that America wants us to be at this rate." One way to avoid secondary sanctions would be if the US determines that India is reducing its dependence on Russian arms, said Atman Trivedi, managing director of Hills & Company, a Washington-based firm that advises on international trade and investment. Russian hardware represented 62 percent of the country's total weapons imports during the past five years, compared with 79 percent in 2008-2012, the Stockholm Peace Research Institute said in a report last month. The US administration could also declare that imposing sanctions on India, a major defence partner, would hurt US national security interests. That would allow a waiver permitting India to do business with Russia. The United States has emerged as India's No. 2 weapons supplier, closing $15 billion worth of deals over the last decade. Now Lockheed Martin and Boeing are leading the race to provide India with a fleet of new fighter-bombers, one of the world's largest open tenders. "The intent of the legislation was never to disrupt US-India defence relations, which Congress has repeatedly recognised in law as a strategic priority to the US," said Benjamin Schwartz, aerospace and defence head at the United States India Business Council. Abercrombie of Carnegie added that if Congress grants waivers to India, it may also need to do so for other countries such as Vietnam and Indonesia. "The bottom line: India warrants an exemption from these secondary sanctions, as does any country with which the US is forging new and strategically important defence relations," she said.

US sanctions on Russian arms put brakes on $6 billion deal with India

The US trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump&rsquo;s &ldquo;America First&rdquo; trade policies are unlikely to have a material impact on the deficit.&nbsp;

The trade deficit continues to widen a year into the Trump presidency. Trump, who claims that the United States is being taken advantage of by its trading partners, has imposed tariffs on imports of some goods to shield domestic industries. The protectionist measures have sparked fears of a trade war.

The Commerce Department said on Wednesday the trade gap jumped 5.0 percent to $56.6 billion. That was the highest level since October 2008 and exceeded economists&rsquo; expectations of an increase to $55.1 billion. Part of the rise in the trade deficit in January reflected commodity price increases.

The politically sensitive trade deficit with China surged 16.7 percent to $36.0 billion, the highest since September 2015. The deficit with Canada soared 65 percent to a three-year high of $3.6 billion.

Trump in late January imposed broad tariffs on imported solar panels and large washing machines. Last week, Trump announced he would slap import tariffs of 25 percent on steel and 10 percent on aluminium to protect domestic producers.

While these actions may prove politically popular with Trump&rsquo;s working-class political base, especially in states hard-hit by factory closures and import competition, analyst warns they could undercut economic growth.&nbsp;

There are fears that the tariffs could jeopardize talks on the North American Free Trade Agreement (NAFTA) linking Canada, Mexico and the United States. Trump ordered a renegotiation of the trade pact to offer terms more favourable to Washington.&nbsp;

FULL EMPLOYMENT

Trump&rsquo;s &ldquo;America First&rdquo; trade policies are part of an attempt to boost annual economic growth to 3 percent on a sustainable basis. The government in January slashed corporate and individual income taxes.

But with the economy almost at full employment, the increase in demand spurred by the $1.5 trillion tax package will probably be satisfied with imports, further worsening the trade deficit.

In a separate report on Wednesday, ADP Research Institute said U.S. private employers added 235,000 jobs in February. The report, which is jointly developed with Moody&rsquo;s Analytics, was published ahead of the government&rsquo;s more comprehensive employment data on Friday.

According to a Reuters survey of economists, nonfarm payrolls probably increased by 200,000 jobs last month, matching January&rsquo;s gains. The unemployment rate is forecast falling one-tenth of a percentage point to 4.0 percent, which would be the lowest level since December 2000.

US&nbsp;financial markets were little moved by the data.

The surge in the January trade deficit was flagged by an advance goods trade deficit report last week. When adjusted for inflation, the trade deficit increased to $69.7 billion from $68.5 billion in December.

The so-called real trade deficit is above the fourth-quarter average of $66.8 billion. This suggests trade would subtract from first-quarter gross domestic product unless the deficit shrinks in February and March. Trade sliced 1.13 percentage point from fourth-quarter GDP growth.

The economy grew at a 2.5 percent annualized rate during that period. In January, exports fell 1.3 percent to $200.9 billion as shipments of civilian aircraft and crude oil declined. But exports of consumer goods rose to a record high and those of motor vehicles, parts and engines were the highest since July 2014.

Exports to China tumbled 28.1 percent. Imports were unchanged at $257.5 billion in January amid declines in imports of cellphones and civilian aircraft. Crude oil imports increased by $2.2 billion, reflecting higher prices. Imports from China rose 2.9 percent.

In the third report on Wednesday, the Labor Department said worker productivity was flat in the fourth quarter instead of declining at a 0.1 percent rate as it had reported last month. It increased at a 1.1 percent rate compared to the fourth quarter of 2016

Productivity grew at a 2.6 percent rate in the third quarter. Sluggish productivity could make it difficult for the Trump administration to achieve its 3 percent growth target. Annual economic growth has not surpassed 3 percent since 2005. Gross domestic product expanded 2.3 percent in 2017.

The politically sensitive trade deficit with China surged 16.7 percent to $36.0 billion, the highest since September 2015

The US trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump’s “America First” trade policies are unlikely to have a material impact on the deficit. The trade deficit continues to widen a year into the Trump presidency. Trump, who claims that the United States is being taken advantage of by its trading partners, has imposed tariffs on imports of some goods to shield domestic industries. The protectionist measures have sparked fears of a trade war. The Commerce Department said on Wednesday the trade gap jumped 5.0 percent to $56.6 billion. That was the highest level since October 2008 and exceeded economists’ expectations of an increase to $55.1 billion. Part of the rise in the trade deficit in January reflected commodity price increases. The politically sensitive trade deficit with China surged 16.7 percent to $36.0 billion, the highest since September 2015. The deficit with Canada soared 65 percent to a three-year high of $3.6 billion. Trump in late January imposed broad tariffs on imported solar panels and large washing machines. Last week, Trump announced he would slap import tariffs of 25 percent on steel and 10 percent on aluminium to protect domestic producers. While these actions may prove politically popular with Trump’s working-class political base, especially in states hard-hit by factory closures and import competition, analyst warns they could undercut economic growth. There are fears that the tariffs could jeopardize talks on the North American Free Trade Agreement (NAFTA) linking Canada, Mexico and the United States. Trump ordered a renegotiation of the trade pact to offer terms more favourable to Washington. FULL EMPLOYMENT Trump’s “America First” trade policies are part of an attempt to boost annual economic growth to 3 percent on a sustainable basis. The government in January slashed corporate and individual income taxes. But with the economy almost at full employment, the increase in demand spurred by the $1.5 trillion tax package will probably be satisfied with imports, further worsening the trade deficit. In a separate report on Wednesday, ADP Research Institute said U.S. private employers added 235,000 jobs in February. The report, which is jointly developed with Moody’s Analytics, was published ahead of the government’s more comprehensive employment data on Friday. According to a Reuters survey of economists, nonfarm payrolls probably increased by 200,000 jobs last month, matching January’s gains. The unemployment rate is forecast falling one-tenth of a percentage point to 4.0 percent, which would be the lowest level since December 2000. US financial markets were little moved by the data. The surge in the January trade deficit was flagged by an advance goods trade deficit report last week. When adjusted for inflation, the trade deficit increased to $69.7 billion from $68.5 billion in December. The so-called real trade deficit is above the fourth-quarter average of $66.8 billion. This suggests trade would subtract from first-quarter gross domestic product unless the deficit shrinks in February and March. Trade sliced 1.13 percentage point from fourth-quarter GDP growth. The economy grew at a 2.5 percent annualized rate during that period. In January, exports fell 1.3 percent to $200.9 billion as shipments of civilian aircraft and crude oil declined. But exports of consumer goods rose to a record high and those of motor vehicles, parts and engines were the highest since July 2014. Exports to China tumbled 28.1 percent. Imports were unchanged at $257.5 billion in January amid declines in imports of cellphones and civilian aircraft. Crude oil imports increased by $2.2 billion, reflecting higher prices. Imports from China rose 2.9 percent. In the third report on Wednesday, the Labor Department said worker productivity was flat in the fourth quarter instead of declining at a 0.1 percent rate as it had reported last month. It increased at a 1.1 percent rate compared to the fourth quarter of 2016 Productivity grew at a 2.6 percent rate in the third quarter. Sluggish productivity could make it difficult for the Trump administration to achieve its 3 percent growth target. Annual economic growth has not surpassed 3 percent since 2005. Gross domestic product expanded 2.3 percent in 2017.

US trade deficit hits more than nine-year high as exports falter

With exports showing signs of revival, Commerce Minister Nirmala Sitharaman has expressed hope that outbound shipments will see a steady growth in coming months and exceed last year&#39;s figures.

&quot;Many sectors are showing revival including petroleum based. So definitely, I can see a ray of hope that now it is going to be steady,&quot; Sitharaman told PTI in an interview.

When asked whether the export numbers would exceed last year&#39;s level, she said: &quot;Yes, because that (last year) was really dipping every month and now its picking up. In June, there was small growth, but 9.59 per cent in October is not a small figure. I hope we are able to keep that kind of a pace&quot;.

During the April-October period of current fiscal, exports dipped by 0.17 per cent to USD 154.91 billion. In 2015-16, the shipments stood at USD 262.29 billion.

Exporters&#39; body FIEO has said that exports may touch over USD 280 billion this fiscal.

The minister further said that exporters are making best efforts to be competitive in the global markets, ensuring that the currency fluctuations do not affect and also exploring newer markets.

&quot;We are hand holding them,&quot; she added.

Talking about the demand situation in the international markets, Sitharaman said that demand revival probably is &quot;patchy&quot;.

However, some signs of demand revival is there in economies which are giving some kind of impetus, she said adding that with increasing cost of labour in China, people see that India stands out in terms of competitiveness.

&quot;That may not be applicable for all sectors but considerably we are able to stand out even in this depressed demand global environment,&quot; Sitharaman said.

A strong show by engineering, petroleum and gems &amp; jewellery sectors pushed up exports for the second month in October by 9.59 per cent.

Exports of engineering products rose by 13.86 per cent, gems and jewellery by 21.84 per cent, petroleum by 7.24 per cent and chemicals by 6.65 per cent during the month.

From December 2014, exports had fallen for 18 straight months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year then entered again into negative zone in July and August.

(PTI)

Exporters' body FIEO has said that exports may touch over USD 280 billion this fiscal

With exports showing signs of revival, Commerce Minister Nirmala Sitharaman has expressed hope that outbound shipments will see a steady growth in coming months and exceed last year's figures. "Many sectors are showing revival including petroleum based. So definitely, I can see a ray of hope that now it is going to be steady," Sitharaman told PTI in an interview. When asked whether the export numbers would exceed last year's level, she said: "Yes, because that (last year) was really dipping every month and now its picking up. In June, there was small growth, but 9.59 per cent in October is not a small figure. I hope we are able to keep that kind of a pace". During the April-October period of current fiscal, exports dipped by 0.17 per cent to USD 154.91 billion. In 2015-16, the shipments stood at USD 262.29 billion. Exporters' body FIEO has said that exports may touch over USD 280 billion this fiscal. The minister further said that exporters are making best efforts to be competitive in the global markets, ensuring that the currency fluctuations do not affect and also exploring newer markets. "We are hand holding them," she added. Talking about the demand situation in the international markets, Sitharaman said that demand revival probably is "patchy". However, some signs of demand revival is there in economies which are giving some kind of impetus, she said adding that with increasing cost of labour in China, people see that India stands out in terms of competitiveness. "That may not be applicable for all sectors but considerably we are able to stand out even in this depressed demand global environment," Sitharaman said. A strong show by engineering, petroleum and gems & jewellery sectors pushed up exports for the second month in October by 9.59 per cent. Exports of engineering products rose by 13.86 per cent, gems and jewellery by 21.84 per cent, petroleum by 7.24 per cent and chemicals by 6.65 per cent during the month. From December 2014, exports had fallen for 18 straight months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year then entered again into negative zone in July and August. (PTI)

Exports to see steady growth, exceed last year's figure: India's commerce minister

On a month-on-month basis, non-oil domestic exports increased 2.4 per cent.

Singapore’s exports in September fell lesser than estimated after a decline in shipments to China moderated and sales to Europe rebounded even as the outlook for the trade-dependent economy remained grim on sluggish global demand. Non-oil domestic exports last month slipped to 4.8 per cent from a year earlier, trade agency International Enterprise Singapore (IE Singapore) said in a statement on Monday, Reuters reported. The median forecast in a Reuters poll showed a six per cent contraction. In August, overseas sales stalled with shipments to the US picking up and exports to China falling less than the previous month. On a month-on-month basis, non-oil domestic exports increased 2.4 per cent. In September, IE Singapore said, beating a forecast 1.5 percent expansion in the survey. (WION with inputs from Reuters)

Singapore: September exports fall 4.8 per cent

Questions over the exact provenance of bedsheets sold by Welspun India to America&#39;s middle classes have not only wiped $740 million off the firm&#39;s market value, but also revived one of Indian manufacturing&#39;s enduring headaches: quality. 
 
India&#39;s government, desperate to accelerate growth and create more jobs, has backed a &quot;Make in India&quot; manufacturing push. India already makes everything from car parts to t-shirts, but is trying to move up the chain to make higher-end products, like Apple&#39;s iPhone. 
 
One major hurdle, however, has been product quality, often blighted by low salaries, poor training and sketchy suppliers. As India manufactures more, cheap is not always cheerful. 
 
So far, in Welspun&#39;s case, US retailer Target Corp has severed ties, accusing it of passing off cheaper sheets as premium Egyptian cotton for two years. Other Welspun clients are probing the company&#39;s products. 
 
It&#39;s not clear what led to the problem. Welspun, whose share price nearly halved this week, has said it would do an external audit of its supply chain. 
 
Other Indian manufacturers distanced themselves from Welspun, but many fretted over the broader impact as the country tries to bet on quality, not just cheap workers, where it faces constant competition from regional rivals. 
 
&quot;It&#39;s high time exporters improve the quality of their products,&quot; said S.C. Ralhan, president of the Federation of Indian Export Organisations, set up by the government and industry to promote exports. He said the group would take up the issue of quality with its members. 
 
Arvind Sinha, national president of the Textile Association of India, said India&#39;s image as a manufacturing destination for textiles could be tarnished. 
 
&quot;This is another blot on the Indian exports resume,&quot; said an analyst at a local brokerage, who asked not to be named as it would violate his firm&#39;s policies. &quot;The Welspun fiasco could have ripple effects and force companies to scout for options in other regions in Asia that have unscathed records.&quot; 
 
Government officials say the Welspun case is an exception, and don&#39;t expect much damage to India&#39;s reputation as a manufacturing hub. 
 
&quot;We hope it will be one of the stray incidents that will not have much impact on our near $42 billion textile exports,&quot; said a senior textile ministry official, who declined to be named. 
 
A senior official at the Ministry of Commerce and Industry said more such incidents could dent efforts to promote India as a manufacturing export hub. 
 
&quot;If Indian industry is to survive and thrive, it has to adopt global standards,&quot; he said, adding the ministry has raised the issue of standards with exporters through export promotion councils, and has stressed third-party auditing and self-regulation. 
 
DRUGS AND NOODLES 
 
India has been here before. 
 
Its $15 billion pharmaceutical industry, a global supplier of cheaper generic medicines, has been dogged by quality concerns, with health regulators in the United States, Britain and Europe barring some plants from producing drugs for their markets because of inadequate standards. 
 
Highlighting weak official checks and under-resourced testing facilities, Nestle India had to pull its popular Maggi instant noodles off the shelves last year after local regulators found some samples contained unsafe levels of lead. Subsequent tests at government-accredited laboratories showed the noodles were safe for consumption. 
 
Quality assurance experts in India and beyond, however, said damage from the Welspun case could be contained - if the authorities and businesses move quickly to put in place stringent quality assurance standards. 
 
&quot;The government and the companies should themselves put in place better quality control standards to ensure India&#39;s image is protected,&quot; said a certifier at the Indian arm of a Europe-based textile certification company. 
 
The $108 billion textile industry accounts for a tenth of India&#39;s manufacturing production, 5 percent of GDP and 13 percent of export earnings, according to government data. It is the country&#39;s second-largest employer after agriculture. 
 
The government has announced several schemes in the past two years to encourage better use of technology and infrastructure in the textiles sector, and to foster innovation. 
 
But the Welspun case suggests more needs to be done. 
 
&quot;Sourcing strategy is really driven by who can deliver the lowest cost at an acceptable quality, and India is still a place that delivers on that promise,&quot; said Neil Stern, senior partner at retail consultancy McMillan Doolittle in Chicago. 
 
&quot;This certainly brings negative publicity, but companies will stack it up as one bad apple and not view it as a systemic problem.&quot; 
 
(Reuters)

US retailer Target Corp has accused Welspun of passing off cheaper sheets as premium Egyptian cotton for two years

Questions over the exact provenance of bedsheets sold by Welspun India to America's middle classes have not only wiped $740 million off the firm's market value, but also revived one of Indian manufacturing's enduring headaches: quality. India's government, desperate to accelerate growth and create more jobs, has backed a "Make in India" manufacturing push. India already makes everything from car parts to t-shirts, but is trying to move up the chain to make higher-end products, like Apple's iPhone. One major hurdle, however, has been product quality, often blighted by low salaries, poor training and sketchy suppliers. As India manufactures more, cheap is not always cheerful. So far, in Welspun's case, US retailer Target Corp has severed ties, accusing it of passing off cheaper sheets as premium Egyptian cotton for two years. Other Welspun clients are probing the company's products. It's not clear what led to the problem. Welspun, whose share price nearly halved this week, has said it would do an external audit of its supply chain. Other Indian manufacturers distanced themselves from Welspun, but many fretted over the broader impact as the country tries to bet on quality, not just cheap workers, where it faces constant competition from regional rivals. "It's high time exporters improve the quality of their products," said S.C. Ralhan, president of the Federation of Indian Export Organisations, set up by the government and industry to promote exports. He said the group would take up the issue of quality with its members. Arvind Sinha, national president of the Textile Association of India, said India's image as a manufacturing destination for textiles could be tarnished. "This is another blot on the Indian exports resume," said an analyst at a local brokerage, who asked not to be named as it would violate his firm's policies. "The Welspun fiasco could have ripple effects and force companies to scout for options in other regions in Asia that have unscathed records." Government officials say the Welspun case is an exception, and don't expect much damage to India's reputation as a manufacturing hub. "We hope it will be one of the stray incidents that will not have much impact on our near $42 billion textile exports," said a senior textile ministry official, who declined to be named. A senior official at the Ministry of Commerce and Industry said more such incidents could dent efforts to promote India as a manufacturing export hub. "If Indian industry is to survive and thrive, it has to adopt global standards," he said, adding the ministry has raised the issue of standards with exporters through export promotion councils, and has stressed third-party auditing and self-regulation. DRUGS AND NOODLES India has been here before. Its $15 billion pharmaceutical industry, a global supplier of cheaper generic medicines, has been dogged by quality concerns, with health regulators in the United States, Britain and Europe barring some plants from producing drugs for their markets because of inadequate standards. Highlighting weak official checks and under-resourced testing facilities, Nestle India had to pull its popular Maggi instant noodles off the shelves last year after local regulators found some samples contained unsafe levels of lead. Subsequent tests at government-accredited laboratories showed the noodles were safe for consumption. Quality assurance experts in India and beyond, however, said damage from the Welspun case could be contained - if the authorities and businesses move quickly to put in place stringent quality assurance standards. "The government and the companies should themselves put in place better quality control standards to ensure India's image is protected," said a certifier at the Indian arm of a Europe-based textile certification company. The $108 billion textile industry accounts for a tenth of India's manufacturing production, 5 percent of GDP and 13 percent of export earnings, according to government data. It is the country's second-largest employer after agriculture. The government has announced several schemes in the past two years to encourage better use of technology and infrastructure in the textiles sector, and to foster innovation. But the Welspun case suggests more needs to be done. "Sourcing strategy is really driven by who can deliver the lowest cost at an acceptable quality, and India is still a place that delivers on that promise," said Neil Stern, senior partner at retail consultancy McMillan Doolittle in Chicago. "This certainly brings negative publicity, but companies will stack it up as one bad apple and not view it as a systemic problem." (Reuters)

Welspun tangle highlights India's quality challenge

North Korea&#39;s economy contracted in 2015 at the sharpest pace in eight years, an estimate from the Bank of Korea showed on Friday, as low global commodity prices landed a blow to exports, a key driver for the impoverished country&#39;s economy. 
 
The gross domestic product in North Korea last year fell a real 1.1 per cent, South Korea&#39;s central bank said, which was the first fall since 2010 and compares with a one per cent gain in 2014. It also marked the fastest decline since a 1.2 per cent drop in 2007. 
 
Isolated North Korea does not publish economic data. 
 
All sectors, except construction and services, declined a likely burden for North Korean leader Kim Jong Un already under pressure from international sanctions against multiple provocations including a nuclear test in January. 
 
&quot;The key reason for the GDP contraction looks to be trade as global commodity prices fell while China demand also declined,&quot; said a Bank of Korea official, who declined to be named as he was unauthorised to speak to media. 
 
&quot;North Korea&#39;s main commodity exports are coal and iron ore, which likely all declined last year.&quot; 
 
Neighbouring China is North Korea&#39;s chief trading partner. 
 
The Bank of Korea data showed exports in North Korea fell 14.8 per cent last year in annual terms as mineral product shipments slumped 14.7 per cent. This was far worse than a 1.7 per cent decline seen in 2014. 
 
Imports dropped a faster 20.0 per cent last year, compared with a 7.8 per cent increase in 2014. 
 
The central bank official said trade is expected to worsen this year as it becomes difficult for North Korea to boost shipments with other countries with international sanctions likely to grow heavier following Pyongyang&#39;s continued missile launches and nuclear threats. 
 
Construction rose 4.8 per cent last year, accelerating from a 1.4 per cent gain in 2014, the same data showed. 
 
Meanwhile, a 0.8 per cent gain in services last year reflects North Korea&#39;s economic shift towards capitalism as the black market there has become more pervasive. Financial services have also grown, which likely contributed to the gain, the BOK official added. 
 
The Bank of Korea has released GDP data on North Korea every year since 1991 based on information received from related sources, including the Ministry of Unification. 
 
(Reuters)

North Korea's economy contracted in 2015 at the sharpest pace in eight years, an estimate from the Bank of Korea showed on Friday

North Korea's economy contracted in 2015 at the sharpest pace in eight years, an estimate from the Bank of Korea showed on Friday, as low global commodity prices landed a blow to exports, a key driver for the impoverished country's economy. The gross domestic product in North Korea last year fell a real 1.1 per cent, South Korea's central bank said, which was the first fall since 2010 and compares with a one per cent gain in 2014. It also marked the fastest decline since a 1.2 per cent drop in 2007. Isolated North Korea does not publish economic data. All sectors, except construction and services, declined a likely burden for North Korean leader Kim Jong Un already under pressure from international sanctions against multiple provocations including a nuclear test in January. "The key reason for the GDP contraction looks to be trade as global commodity prices fell while China demand also declined," said a Bank of Korea official, who declined to be named as he was unauthorised to speak to media. "North Korea's main commodity exports are coal and iron ore, which likely all declined last year." Neighbouring China is North Korea's chief trading partner. The Bank of Korea data showed exports in North Korea fell 14.8 per cent last year in annual terms as mineral product shipments slumped 14.7 per cent. This was far worse than a 1.7 per cent decline seen in 2014. Imports dropped a faster 20.0 per cent last year, compared with a 7.8 per cent increase in 2014. The central bank official said trade is expected to worsen this year as it becomes difficult for North Korea to boost shipments with other countries with international sanctions likely to grow heavier following Pyongyang's continued missile launches and nuclear threats. Construction rose 4.8 per cent last year, accelerating from a 1.4 per cent gain in 2014, the same data showed. Meanwhile, a 0.8 per cent gain in services last year reflects North Korea's economic shift towards capitalism as the black market there has become more pervasive. Financial services have also grown, which likely contributed to the gain, the BOK official added. The Bank of Korea has released GDP data on North Korea every year since 1991 based on information received from related sources, including the Ministry of Unification. (Reuters)

South Korea: North Korea GDP falls steeply

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