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
, the value of merchandise exports expanded at a slower rate as the result of the economic slowdown in major trading partners, and the effect of protectionist trade policies between the US and China. The
but slower than the previous quarter because of the deceleration of exporting sector and the world economy. Merchandise exports were projected to recover more slowly than expected due to the slowdown in
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