2018. This was a result of a decline in merchandise exports owing to the economic slowdown of trading partners affected by trade protectionism and the impact of structural changes in the manufacturing

investment particular in machinery and equipment, industrial production, manufacturing capacity, and the value of merchandise exports were also better. Rising government expenditure is another significant

merchandise categories and markets in line with a slowdown in trading partner demand. In the tourism sector, the number of tourist arrivals for the first eight months of this year contracted by 75.2% YoY. The

sectors. Tourism was heavily affected by airspace and border closures, while merchandise exports fell sharply as demand from major trading partners fell, impacting both manufacturing production and domestic

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half of the year. Against the backdrop of the global trade slowdown and uncertainty over US trade policy, merchandise exports in 2018 expanded by 7.7 percent, down from 9.8 percent growth in 2017

the International Maritime Organization’s (IMO) rule that limit the sulfur content of marine fuels to 0.5% come into effect from 1 January 2020. Crack Spreads Situation (Unit: USD/BBL) Crack Spreads Q2

Oil that has successively plummeted prior to the enforcement of the usage of the bunker oil with Sulphur content not exceeding 0 . 5% by International Maritime Organization (IMO) which will start on the

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