slightly declined from the high base of last year. For export sector, exports value remained stable for Q418 from the same period last year due to the high base effect of last year and also from the trade
third quarter of 2017, buoyed largely by tourism and exports. Nonetheless, the economic recovery was not broad-based, as evidenced by sluggish private consumption. While certain businesses were still
traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see
increased significantly from China’s exports. The Mogas/Dubai crack spread (UNL95/DB) decreased by 0.63 $/BBL compared to the 12.15 $/BBL averaged in Q2/ 2018, a result of decrease in demand from the Northern
announced in many countries, severely impacting both the tourism service sector and related businesses. Meanwhile, merchandise exports shrank as the global demand weakened due to lockdown measures and supply
expansion of merchandise exports and tourism. The value of merchandise exports in 2017 grew around 10%, compared to 0.5% in 2016. Tourism sector also grew in line with the higher number of foreign tourists in
continued to gain further traction driven by both growths in domestic and external demand. The value of merchandise exports expanded solidly on the back of the continual increase in export quantity and rising
continued to expand from the previous quarter. The value of merchandise exports expanded in line with trading partners’ growth, global trade and the impacts of trade protectionism measures by the US and China