Day: January 8, 2023

Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy. The island of 22 million is in the midst of its worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that has left the country struggling to pay for fuel, food and medicine. Officials from Thailand are scheduled Read Full Details…

America’s shortfall on trade with the rest of the world narrowed sharply in November. According to the US Department of Commerce, in seasonally adjusted terms, the foreign trade deficit in goods and services sank at a month-on-month pace of 21.0% to reach -$61.5bn (Barclays Research: -$78.6bn). The drop was driven by a 6.4% decline in imports to $313.4bn while exports retreated by 2.0% to $251.9bn. Nonetheless, year-to-date the trade deficit was 15.7% higher than over the same period of 2021. Read Full Details…