India's veg oil imports forecast to surge 60% to $15 billion this year: ASSOCHAM
The Dollar Business Bureau | @TheDollarBiz The juggernaut of India’s veg oil imports, which started rolling in the mid-nineties following import relaxations and economic reforms, is all set to grow to mammoth proportions this year. A new report by the Associated Chambers of Commerce & Industry of India (ASSOCHAM) says that India’s spending on veg oil imports is expected to reach a record high of $15 billion in FY2014-15. This is over 60% more than what India spent in FY2013-14 (around $9.3 billion) and about 3% of India’s total imports last year. According to the report, India’s imports of veg or edible oils in the first five months of this fiscal year are already up over 53% y-o-y ...
Trade is the catalyst for Malaysias economic success
The Dollar Business Bureau | @TheDollarBiz A recent report from the World Bank reveals that Malaysia’s endeavour to improve trade competitiveness has helped its economy grow, and almost 60% of goods and services produced in the country is consumed abroad. According to the World Bank, Malaysia's economy is expected to grow by 5.4% in 2014 and 4.6% in 2015, helped mainly by exports which contribute about 22% of the country’s GDP. “Trade is an engine of growth towards high-income status. As small and open economy, Malaysia’s path to high-income status is tied to its trade performance,” says the World Bank report. There are three major ways in which trade contributes to Malaysia’s growth. First, trade has allowed a small economy like ...
