Trade

• [New] In the long-term, the Taiwan Balance of Trade is projected to trend around USD 3400.00 Million in 2022 and USD 3000.00 Million in 2023.
• [New] Balance of Trade in Taiwan is expected to be USD 5100.00 Million by the end of this quarter.
• [New] In the long-term, the Romania Average Gross Monthly Wages is projected to trend around 6111.00 RON / Month in 2021 and 6325.00 RON / Month in 2022.
• [New] Digital currency bitcoin has emerged as a rival to gold and could trade as high as US$146,000 (C$185,223) if it becomes established as a safe-haven asset.
• [New] Security will trump trade in the first months of Biden's presidency, although Washington's return to the Paris climate agreement and World Health Organization will boost the impression of a multilateralist reset and improve the US image in developing regions.
• [New] The Department of Trade and Industry projects goods and services exports to have fallen by 14.7% to $80.5 billion in 2020, before growing by 12.4% to $90.5 billion in 2021 and by 14.8% to $103.9 billion in 2022.
• [New] A LEAF manufactured in Japan that uses battery cells made in Japan is exempt from EU tariffs while a LEAF manufactured in the UK that uses battery cells made in Japan will be subject to a 10% tariff in 6 years.
• [New] The 500-page agreement will mean there are no quotas or tariffs on the goods trade that makes up half of the annual commerce between the UK and EU, worth more than $1 trillion.
• [New] Tying up a trade deal between the European Union and United Kingdom boosts the prospects for the Irish economy in 2021, largely because it removes a big threat to food exports and wider trade.
• [New] Around $900 million in annual trade is at risk if Britain, the world's sixth biggest economy, and the EU - a trading bloc of 450 million consumers - fail to craft a new accord.
• [New] Malaysia's exports grew 4.3% year on year to RM84.4 billion in November, signifying a better external trade outlook for 2021 amid an expected recovery in global demand.
• [New] A failure to reach a post-Brexit deal would lead to more chaos on Britain's borders with the EU at the start of 2021, when new tariffs would add to other impediments to trade enacted by both sides.
• Global gas demand is expected to resume growth in 2021.
• The rate of GDP growth in Sri Lanka was in negative territory in 2020, with an annual contraction of 4.6% expected.
• The economy of Sierra Leone was in recession in 2020, with GDP projected to have contracted by 3.1%.
• The rate of GDP growth in Papua New Guinea was in negative territory in 2020, with an annual contraction of 3.3% expected.

Last updated: 10 January 2021