In August, exports dropped less than expected 5.5 percent year-on-year to USD196.89 billion, compared to a 8.3 percent fall in the previous month. Imports slumped 13.8 percent year-on-year to USD136.65 billion, as a result of declining commodity prices and following a 8.1 percent drop in July. In the previous month, the country registered a USD43.03 billion trade surplus.
Considering the first eight months of 2015, exports dropped by 1.4 percent, driven by coal & ignite (-32.6 percent); coke & semi coke (-4.6 percent); refined oil (-30.6 percent); clothing accessories (-6.4 percent); footwear (-3.2 percent); precious metals (-59.9 percent); steel (-4.1 percent); automatic data processing equipments and parts (-14.5 percent); LCD panel (-5.6 percent) and furniture & parts (-4.1 percent). In contrast, outbond shipments increased for: rice (+7.5 percent); crude (+376.3 percent); mineral fertilizer (+46.8 percent); plastic products (+2.0 percent); ceramic products (+21.5 percent); unwrought aliminium and aluminium (+19.7 percent); handheld wireless (+14.9 percent); IC (+2.8 percent) and lamps, lighting fixtures and parts (+16.2 percent).
Sales increased to India (+7.6 percent), the ASEAN countries (+6.8 percent), the US (+6.1 percent), South Africa (+7.0 percent), Australia (+3.1 percent) and New Zealand (+9.7 percent). In contrast, exports were down to Hong Kong (-9.2 percent), Japan (-10.4 percent), South Korea (-7.2 percent), Taiwan (-1.0 percent), the EU countries (-4.7 percent), Russia (-36.3 percent) and Brazil (-12.4 percent).
Imports slumped 14.5 percent as purchases from all of the country's trading partners declined except Vietnam. Those from the US decreased by 7.3 percent, India (-23.0 percent), Japan (-11.5 percent), Hong Kong (-9.4 percent), the ASEAN countries (-6.7 percent), South Korea (-7.2 percent), the EU countries (-13.5 percent), Russia (-21.2 percent), South Africa (-36.3 percent), Australia (-26.3 percent) and New Zealand (-37.2 percent). In contrast, imports from Vietnam rose by 22.4 percent.