"The current account surplus is projected to widen to 20.2% of GDP on higher export volume and prices," APA-Economics reports citing a new report of the ADB entitled "Asian Development Outlook 2022".
"The indicator will decline to 16.9% in 2023 as moderating oil prices and a small decline in oil export volume trim earnings—the merchandise trade surplus expanding by 48.5% in 2022, reflecting a 14.0% rise in export earnings, then falling by 10.1% in 2023.
Imports are projected to decline by 10.3% in 2022 and 4.8% in 2023 with supply shortfalls from Russia and Ukraine, as well as higher excise taxes on selected goods," noted in the report.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
