Out of work and sitting on the porch: the shape of things to come? Oct 26, 2009
"Many Australian manufacturers would be thinking that the reason they are feeling the squeeze from our higher terms of trade is that the exchange rate has appreciated," he said. "But even if the exchange rate were not to appreciate, they would eventually feel the squeeze because they would find it increasingly difficult over time to compete with the construction and resources sectors for the economy's factors of production both labour and capital." In other words, investment and workers will... (Sydney Morning Herald -- Opinion)
Balance of power: Rudd torn on financial advice Oct 24, 2009
"If expenditure, both government and private, is allowed to expand too much when commodity prices are exceptionally high, there will be dreadful problems when it becomes necessary to adjust to lower living standards as prices fall to more normal levels. "Australia has two strikes against it: its huge current account deficits before the crisis, and the deterioration in its terms of trade ... " Henry strongly disagrees. In an unusually passionate speech in Brisbane on Thursday, the Treasury chief... (Sydney Morning Herald -- Business)
Chinese premier arrives in Thailand for ASEAN summits with partners Oct 24, 2009
9 billion and the world's third largest in terms of trade volume. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Vietnam and Thailand. (Xinhuanet, China)
Export prices keep upward pressure on rates Oct 23, 2009
The continued drop in export prices saw the terms of trade, or what Australia gets for exports compared to what it pays for imports, fall a further 7 per cent in the quarter. The terms of trade fell 15 per cent in the second quarter ... The RBA maintains the terms of trade remain at a very high levels due to a strong recovery in Asia, and particularly China, that has supported demand for commodities. (Sydney Morning Herald -- Business)
MNS gives Cong-NCP their third Raj in Maharashtra Oct 23, 2009
Emboldened by its improved numbers Congress is raring to seek a drastic revision of terms of trade with the NCP, and is likely to seek more portfolios, as well as the important ones it had to cede to Sharad Pawar last time. The third straight loss to Cong-NCP may well be aging Sena supremo Bal Thackeray's waterloo. (India Times, India)
Unemployment yet to peak, Henry says Oct 22, 2009
Dr Henry also said Australia's terms of trade in 2012/13 was likely to be 35 per cent above the 50 year average. He also said Sydney and Melbourne will increase their populations by more than 50 per cent, and Brisbane by 106 per cent, over the next 40 years. (Sydney Morning Herald -- Business)
Stocks 'slightly' expensive: Future Fund Oct 22, 2009
What investment dollars are available to Australia find their way to the most productive industries and make the most of the continuing boom in commodities and the positive terms of trade that we have,'' he said ... Australia's strong terms of trade - the prices paid for exports compared to imports - as well as improvements in productivity and foreign capital injections would drive the economy going forward, Mr Murray said. (Sydney Morning Herald -- Business)
RBA keen to remove emergency setting Oct 20, 2009
Moreover, the economy was expected to grow close to trend (presumably the long run average of just over 3 per cent per annum) though 2010, barring any setbacks, despite a fall in gross domestic income caused by the falling terms of trade. The economy was then expected to accelerate further. (Sydney Morning Herald -- Business)
Yuan might be new greenback as axis shifts Oct 20, 2009
Australia's terms of trade, he said, were about 50 per cent above the average of the 1980s and 1990s. The only other time they were so strong was when Australia rode on the sheep's back for a brief period in the 1950s. (Sydney Morning Herald -- Business)
Asian outlook good for Australia: RBA Oct 19, 2009
The RBAs Mr Lowe credited Asias growing economic strength with propping up Australias terms of trade - or prices paid for exports versus prices paid for imports - about 50 per cent higher than the average level over the 1980s and 1990s. This strength in our terms of trade would certainly have come as a surprise to many of the commentators of earlier decades who thought that the prices of Australia's exports would inexorably decline relative to the prices of our imports. (Sydney Morning Herald -- Business)
Africa: Reflecting With Nyerere On People-Centered Leadership Oct 18, 2009
These imperialist relations underlie such problems as debt, unequal terms of trade, foreign exchange strangulation, and the growing power of multinational corporations within Tanzania's economy, and that of Africa as a whole. Imperialist relations interact with capitalist, patriarchal, racist, traditionalist and fundamentalist structures, systems and relations - they cannot nor should they be separated from each other. (allAfrica.com)
Ignore cries of woe over soaring dollar Oct 17, 2009
The Aussie almost always rises or falls in line with major movements in commodity prices, and our terms of trade - the prices we receive for our exports relative to the prices we pay for our imports - were at a 50-year high. What's more, it's likely the Aussie's recent strength is explained by the realisation that the post-crisis fall in commodity prices has been limited - leaving us with terms of trade still well above average - the continuing strength in the volume of our exports, particularly... (Sydney Morning Herald -- Business)
Hong Kong chief delivers 2009-10 policy address Oct 14, 2009
In terms of trade and logistics, he said Hong Kong will work closely with the mainland authorities to maintain its leading position in the global supply chain. The city also has an important role to play in the blueprint for the Pearl River Delta region. (Xinhuanet, China)
* Australian treasurer says joblessness is expected to rise Oct 13, 2009
The full effects of the fall in Australias terms of trade are also still being felt and this will continue to weigh on domestic incomes. Private business investment and company profitability are still expected to decline, he said. (Taipei Times, Taiwan -- World)
Indonesia Will Have to Wait A Little Longer for Obama Oct 9, 2009
"This is going to be a new type of relationship and will have some meaning like 'Most Favored Nation' would in terms of trade," says Arian Ardie, a member of the American Chamber of Commerce. "I also think it is great that he wants to spend more time here and introduce his family to a place that helped shape his upbringing. "Defining things quickly would not help in the long run, especially given the important areas of health, education, climate change and the environment," says Ardie. A later... (Time.com)
Dollar weakness allows gold to shine through record level Oct 7, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
Provide us with ECOWAS railway lines - CSO leader Oct 6, 2009
Mr Mba said although there was an ECOWAS Parliament in place, their operation was not impacting significantly on the people of the region and appealed to them to consider encouraging effective rapport among member states in terms of trade and transport. "We can strengthen the ties of member states by encouraging the use languages such as Ewe, Bambara and Hausa which cut across the borders of some member states," he said. (Ghana Web, Ghana)
The black hole of China Oct 4, 2009
At the macro level, it has cushioned Australia's net exports and terms of trade. At the company level, Chinese exports have been the difference between record profits and disaster. (Sydney Morning Herald -- Business)
Press Release: Statement at the Conclusion of an IMF Mission to the Central African Republic Oct 2, 2009
The external current account deficit is projected to decline somewhat to 9 percent of GDP because of reduced import volumes and improved terms of trade (due to a decrease in world oil prices and an increase in diamond prices). Fiscal performance was encouraging over the first half of the year. (IMF News)
The Full Story: Brown's speech Sep 30, 2009
The consensus among some in the lobby is that it was a good speech but not one that will change the terms of trade. One particular criticism is that it did not appear to acknowledge the tough years ahead. (BBC News -- UK)
Press Release: Statement by an IMF Staff Mission to Benin Sep 30, 2009
"The global economic crisis has adversely affected the near term prospects of the Beninese economy. Real GDP growth is projected to slow to 2.5 percent in 2009, a decline from 5.0 percent in 2008 due to the weak prospects for cotton and trade with neighboring countries. Inflation has declined because of lower agricultural prices, thanks to a good cereal harvest, and lower international food and fuel prices. On the other hand, the external current account deficit, excluding grants, is expected to... (IMF News)
* NCCU opens center for contemporary Japanese studies Sep 25, 2009
Siew said the government had been dedicated to promoting exchanges between Taiwan and Japan in terms of trade, culture, youth, academics and tourism since early this year. Taiwan and Japan have had very close economic and cultural relations despite the absence of diplomatic ties since 1972, Siew said. (Taipei Times, Taiwan -- World)
BOG Holds Benchmark Interest Rate at 18.5% Sep 24, 2009
The country's external payments position has benefited from the continuing terms of trade gains due to a reduction in energy bill mostly as a result of increased generation of electricity from hydro sources, along with lower oil prices. Dr Acquah said increases in oil prices as a result of recovery of global demand from the financial and economic crisis still posed a major threat to the economy. (Ghana Web, Ghana)
11 great tips for start-ups Sep 23, 2009
Use your terms of trade to advantage; dont be a bank to your suppliers through early payments Keep your fringe benefits and personal drawings to a minimum. Keep your bank in the loop, and maintain records. (Sydney Morning Herald -- Business)
Boudou Says Argentina's Economy Showing Signs of Third-Quarter Recovery Sep 22, 2009
A gradual recovery in external demand coupled with a slight improvement in Argentinas terms of trade, following the recent pick-up in commodity prices, means that the economy should continue to show signs of improvement over the coming quarters, wrote. Quarterly Contraction. (Bloomberg)
Press Release: IMF Executive Board Approves US$21.5 Million PRGF Arrangement for the Union of the Comoros Sep 22, 2009
Press Release: IMF Executive Board Approves US$21. 5 Million PRGF Arrangement for the Union of the Comoros. (IMF News)
ELIZABETH KNIGHT Sep 17, 2009
The conventional measures of a nation's prosperity come from government statisticians - gross domestic product, consumer confidence, terms of trade and the like. They are a worthy source of data, but the average Australian has a different litmus test. (Sydney Morning Herald -- Business)
Towards an Integrated, Peaceful and Prosperous Africa: The AU in Perspective Sep 17, 2009
The issue of concern here is that the prevailing terms of trade between Africa and the developed world, have been far from favourable to African nations. One would expect the development partners to demonstrate that they are true partners by supporting African states to industrialise their economies and set them on the path of sustainable development, rather than dolling out aid money. (Ghana Web, Ghana)
How China's Yuan Can Become a Global Currency Sep 16, 2009
In terms of trade volume as a share of the world total, China's ratio was 5. 1% in 2007, having already overtaken Japan and Britain in 2004. (BusinessWeek)
Recovery will be modest, Swan warns Sep 15, 2009
Mr Hockey said Australia's terms of trade - export prices compared to import prices - were higher now than when the Rudd Government won the 2007 election. Join the conversation. (Sydney Morning Herald -- Australia)
Towards an Integrated, Peaceful and Prosperous Africa: Sep 12, 2009
" (A GNA feature by Mohammed Nurudeen Issahaq) Accra, Sept. 9, GNA - The vision of a united, peaceful and prosperous Africa has been a long, cherished but elusive ideal whose early advocates included Marcus Garvey, President Kwame Nkrumah of Ghana, George Padmore, W.E.B. DuBois, Emperor Haile Selassie of Ethiopia, Gamel Abdul-Nasser of Egypt, and Jomo Kenyatta of Kenya among others. The idea found expression in the establishment of the Union of African States (UAS), an early Pan-Africanist... (Ghana Web, Ghana)
U.S. must lead at G20 on climate, says group Sep 11, 2009
She said the G20 should call on the World Bank and other development institutions to develop innovative risk management tools for poor countries, including insurance against natural disasters and bonds indexed to terms of trade. "I believe that all parties can agree in principle on the importance of effective implementation of whatever (climate change) agreement is eventually reached," she said. (Scientific American)
New Zealand's Export Prices Tumble By Most in 58 Years as Currency Surges Sep 10, 2009
Sept. 10 (Bloomberg) -- New Zealand export prices posted their biggest decline in 58 years as the currency surged the most in 23 years, shrinking the nations terms of trade index for a fifth straight quarter ... The terms of trade index plunged 9 percent ... The terms of trade index, which measures the amount of imports New Zealand can buy from a fixed quantity of exports, fell to the lowest level since the third quarter of 2006 as the global recession curbed the incomes of farmers and... (Bloomberg -- Australia & New Zealand)
Australia Dollar Falls as Employers Cut More Jobs Than Economists Expected Sep 10, 2009
The New Zealand dollar also strengthened earlier after the statistics bureau said fell the most in 58 years, shrinking the nations terms of trade index for a fifth quarter. Export Prices. (Bloomberg -- Australia & New Zealand)
New MIDA chairman on: Why progressive liberalisation? Sep 1, 2009
However, the last round of trade negotiations took some time to conclude (from 1986 to 1994), in part, due to the need to define comprehensively the multilateral terms of trade in services and the expectations that developing countries make significant offers of liberalisation within the services sectors. The developing economies were very guarded in making offers in the services in the last trade round, and they were rightly so, for several reasons. (The Star Online, Malaysia -- Business)
Current Account Deficit in Australia Widens as Coal, Iron Ore Exports Fall Sep 1, 2009
The weakness in the global economy over the past year has contributed to a significant decline in commodity prices and Australias terms of trade, a measure of income from exports, the central bank said on Aug. 7. The terms of trade will fall by about 20 percent from their 2008 peak, the last month. (Bloomberg -- Australia & New Zealand)
* Roubini sees double-dip recession risk Aug 25, 2009
Last year, oil at US$145 a barrel was a tipping point for the global economy as it created negative terms of trade and a disposable income shock for oil-importing economies, he said. The global economy could not withstand another contractionary shock if similar speculation drives oil rapidly toward US$100 a barrel. (Taipei Times, Taiwan -- Sports)
Kenya: Selling the Cows to Feed the Children Aug 22, 2009
Overall, food security had been affected by poor pasture, deteriorating terms of trade, near total crop failure in agro-pastoral zones and acute water shortages. In West Pokot along the Ugandan border, for example, six goats will buy only a 90kg bag of dry maize. (allAfrica.com)
Pickup in EU Trade Figures Aug 21, 2009
in terms of trade partners, the largest drop in EU's exports was recorded with Russia, Turkey, South Korea and Norway. The bloc also imported less from Russia, Japan and Brazil. (BusinessWeek)
Press Release: Statement at the Conclusion of an IMF Staff Visit to the Democratic Republic of the Congo Aug 20, 2009
In response to a sharp decline in key commodity export prices and a deterioration in the country s terms of trade during the fourth quarter of 2008, the DRC received emergency financial support from its development partners, including US$200 million through the Rapid Access Component of the IMF s Exogenous Shock Facility (RAC-ESF). As a result, gross official reserves recovered from their historically low levels. (IMF News)
Optimistic Ken Henry says war's not over yet Aug 17, 2009
This would continue the positive momentum for the nation's terms of trade, too, which remained above their 50-year average. "It's a shift that will continue to be reflected in structural change in the Australian economy in the next expansion phase,'' Dr Henry said.AAP Join the conversation 2 people are reading this now. . . Related Coverage 2:29pm A little-noticed statistic shows the construction industry doing much ... Today in Business Story Tools Holidaymakers with $370,000 to spare can now... (Sydney Morning Herald -- Business)
Why we're better off with the dragon than Uncle Sam Aug 16, 2009
What's more, the rebound in China's demand for our stuff means that though our terms of trade - the prices we receive for our exports relative to the prices we pay for our imports - are now expected to deteriorate by about 20 per cent from their peak last year, they'll still be about 45 per cent better than their average over the 20 years to 2000. Prices on the spot (single-purchase) markets for iron ore, coal and other commodities have actually risen over the past three months. (Sydney Morning Herald -- Business)
De Gregorio May Keep Chile's Key Rate at 0.5% After Seven Consecutive Cuts Aug 13, 2009
The second quarter will probably mark the trough and were expecting a third-quarter bounce, based on improvements in the global economy, better terms of trade and the massive policy stimulus, said , an economist at Barclays Capital in New York. Its fairly clear 0. (Bloomberg -- Latin America)
Transcript of a Conference Call on the New Lending Framework for Low-Income Countries, With Antoinette Sayeh, Director of the African Department, and Reza Moghadam, Director of the Strategy Policy and Review Department Aug 12, 2009
We've responded very quickly to the significant terms of trade shock that a number of countries have experienced and particularly those countries are importers of commodities, and across the board we've been able to help through the reformed DSF that is now further renamed to make financing available to those countries hardest hit by the crisis. We broadly continue to think that growth will be very weak this year in Africa, some 1. (IMF News)
IMF commends Aussie economic response Aug 8, 2009
" The IMF also supported the government's plan to get the budget back into surplus over the medium term. But there was a proviso. "The authorities agreed that if trend growth or the terms of trade are not as high as assumed in the budget, further restraint on spending would be needed to return to surpluses over a horizon consistent with the authorities objective. " Treasurer Wayne Swan was quick to note the IMF's positive assessment. "The International Monetary Fund has today again commended... (Sydney Morning Herald -- Australia)
Australia's Stevens May Raise Interest Rates as Economy Avoids Recession Aug 8, 2009
Australias terms of trade, a measure of income from exports such as coal and iron ore, is expected to fall by about 20 percent from a 2008 peak, the bank said. This will still leave the measure around 45 percent above the average level between 1980 and 2000. (Bloomberg -- Australia & New Zealand)
Resources boom is still resounding Aug 2, 2009
So it seemed our terms of trade were in long-term decline ... Our terms of trade hit their highest level in 50 years. (Sydney Morning Herald -- Business)
Australia sitting pretty – home on the boom’s back Aug 2, 2009
So it seemed our terms of trade the prices we got for our exports relative to the prices we paid for our imports were in long-term decline ... Our terms of trade hit their highest level in 50 years. (Sydney Morning Herald -- Business)
Q&A: Foot-and-mouth disease Jul 28, 2009
How does it affect farmers in terms of trade. Export health certificates for animals and animal products will be withdrawn. (BBC News -- Science)
Pakistan exports 'threat to US jobs' Jul 28, 2009
Pakistan, although a leading partner of the US in its "war on terror", falls fairly low in the list of US partners in terms of trade in goods and services, and it has repeatedly urged Washington to facilitate greater market access for its products, mainly textiles. The share of exports from Pakistan to the US market has remained stagnant at around 0. (Asia Times Online)
Bank of Canada Says Recession Is Ending Early, Dollar a `Drag' on Growth Jul 24, 2009
This somewhat more favorable short-term outlook reflects a more modest retrenchment in household and business spending, as negative effects on confidence dissipate, financial market conditions improve, and the terms of trade increase more quickly than previously anticipated, the report said. U.S. Economy at Trough. (Bloomberg -- Canada)
Govt is working hard to fix economy - Mills Jul 23, 2009
President Mills said considering the ever rising needs and expectations of the electorate, in comparison to the budgetary constraints that had arisen as a result of the poor terms of trade, the global economic downturn and dwindled remittances, the government was faced with a difficult and arduous task to restructure the economy. The good people of Ghana, majority of whom are resident in the rural communities, are looking up to the government to provide basic social services such as potable... (Ghana Web, Ghana)
Downturn will be milder than feared, study says Jul 21, 2009
" The NSW economy, the argument runs, is heavily dependent on residential housing and therefore stands to benefit from low interest rates and boosted government grants to first-home buyers. It is also relatively immune from contracting engineering and large-scale construction investment because it never experienced the same booms of Western Australia and Queensland. The shadow treasurer, Joe Hockey, suggested yesterday the downturn would be no worse than the early 1990s recession, and that the... (Sydney Morning Herald -- Australia)
Bank of Japan Will Consider Length of Each New Credit Policy Individually Jul 21, 2009
They said commodity cost increases may hurt the economy by worsening Japans terms of trade. To contact the reporter on this story: in Tokyo at. (Bloomberg -- Japan)
Australian treasurer says worst may be over Jul 21, 2009
"We will see that in the dramatic drop in business investment, we'll see that in the dramatic drop in the terms of trade. Those factors will push up unemployment locally.". Independent think-tank Access Economics said Australia would register growth of 0. (Channelnewsasia.com)
Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Ghana Jul 19, 2009
While Ghana s terms of trade are projected to strengthen in 2009, supporting incomes and growth, Directors recognized the uncertain environment and the downside risks. Starting in 2011, oil production is expected to bolster growth and fiscal revenues, creating new challenges for macroeconomic management. (IMF News)
Import price drop aids tamer inflation Jul 17, 2009
This saw the country's terms of trade - the net income from exports relative to imports - fall by over 10 per cent.. "Australia has escaped a technical recession via GDP (gross domestic product) expenditure, but you cannot indefinitely ignore the dire state of the income side of the ledger," TD Securities senior strategist Annette Beacher said in a research note. (Sydney Morning Herald -- Business)
Export prices plunge threatens recovery Jul 17, 2009
The fall in export prices will weigh on Australia's terms of trade, or the price of the nation's exports against its imports. Falling "terms of trade means falling incomes and falling incomes means corporates in distress which means more employment falls and we end up with a slower economy for longer," said TD Securities economist Annette Beacher ... Based on today's number, she expects terms of trade will ''tank another 15 per cent in the second quarter. (Sydney Morning Herald -- Business)
Value of Australian Exports Falls in Second Quarter by the Most Since 1974 Jul 17, 2009
Australias terms of trade, a measure of income from exports, tumbled 15 percent in the second quarter, said , an economist at JPMorgan Chase & Co. in Sydney. The terms of trade will fall at least 30 percent from peak to trough, draining national income, although it now appears the squeeze will be worse than we currently forecast, Kevans said. (Bloomberg -- Australia & New Zealand)
S M Jharwal, principal advisor, ministry of agriculture Jul 16, 2009
S M Jharwal, principal advisor, the ministry of agriculture, has helmed many crucial working groups and committees on foodgrains, public distribution system (PDS), grain storage, oilseeds and pulses, terms of trade between agricultural and non-agricultural sectors and demand-supply of food products for the 11th Plan period. Dr Jharwal spoke to ET Bureau about the initiatives taken to improve farm output in the immediate and medium term. (India Times)
China's economic growth "encouraging": Australian Treasurer Jul 16, 2009
"This can be seen in terms of trade for Australia which will certainly be adversely affected, that will have an impact on our national income and that makes our employment outlook difficult and we've seen a decline in private investment," he said. "Those two factors alone mean that we still face a difficult outlook.". (Xinhuanet, China)
Africa to shape the 21st century- Obama Jul 12, 2009
"I say this knowing fully well the tragic past that has sometimes haunted this part of the world. I have the blood of Africa within me, and my family's own story encompasses both the tragedies and triumphs of the larger African story. My grandfather was a cook for the British in Kenya, and though he was a respected elder in his village, his employers called him "boy" for much of his life. He was on the periphery of Kenya's liberation struggles, but he was still imprisoned briefly during... (Ghana Web, Ghana)
Transcript of Obama's Speech to Ghanaian Parliament Jul 12, 2009
In his life, colonialism wasn't simply the creation of unnatural borders or unfair terms of trade - it was something experienced personally, day after day, year after year. My father grew up herding goats in a tiny village, an impossible distance away from the American universities where he would come to get an education. (CBS News)
Aussie minister says Rio arrest not good for business Jul 12, 2009
"It shouldn't matter what our relationship is in terms of trade, all Australians who are overseas and in trouble should be getting appropriate action from the government, and that is what we're doing," he told Channel Nine. Former Rio suitor, China's state-owned Chinalco, has denied Hu's arrest was payback for the collapse of its 19. (Channelnewsasia.com)
No More Excuses, Obama Tells African Leaders Jul 12, 2009
Obama signed his Proclamation on "this sixth day of July, in the year of our Lord two thousand nine..." -- invoking the name of the One who said, 'Let the children come to Me; do not hinder them"! Meanwhile, there's a 'Help Wanted' sign here clamouring for attention. Held out by tiny, trusted hands, it is weather-beaten and tear-streaked. It is as urgent as it is salient: 'Who will do it for us, too?' Adeyemi, a journalist and culture activist writes from Lagos Text of Obama's speech in Ghana... (Guardian News, Nigeria)
