Iraq is suffering an imbalance in the trade balance

Iraq is suffering an imbalance in the trade balance

12/15/2013 0:00

Iraq is suffering an imbalance in the trade balanceEconomic researcher confirmed possession of the ingredients of economic success
Baghdad – Mostafa Hashemi
stressed economic researcher verse just need to adjust the balance of trade of Iraq because he suffers a large deficit because of the tyranny of the volume of imports to the volume of non-oil exports.
intended balance of trade ((BOT which is an acronym for (Balance Of Trade) as The index measuring the overall difference between exports (production) and imports for goods in the state, which is one of the components of the balance of payments, it is also of important economic indicators, which lies its value in the analysis of its components and not in its absolute value.
called the researcher just told (morning) to provide study by the Ministries of Industry and Minerals and trade to the Economic Committee of the Council of Ministers to see the country’s need actual import and can be made ‚Äč‚Äčlocally to compensate for the goods is necessary, indicating that the General Company for Trade and business services can provide study materials imported by Iraq through import licenses granted by the traders. The Ministry of Commerce announced the start of actual work on leave under import on the first of July 2012.
added that Iraq has the elements of success of the enormous economic, but it is not utilized properly due to lack of economic vision as it’s not directed at the service of development, where he owns a natural and human resources of many sulfur and oil, phosphate, water and others.
, and indicated that the country he can achieve self-sufficiency for the existence of the ingredients mentioned as it takes to achieve a surplus in the trade balance by activating the productive sectors, whether the government or privately owned, and Astdrki but the absence of view clear to the country’s economy as well as not to activate the laws of important economic led to a decline in the economic performance of Iraq in general.
and happens surplus in the trade balance when the direction of the trade balance is positive, in other words, when the volume of exports to a particular country more than the volume of imports, and contributes to the surplus in the trade balance in the promotion of state reserves of foreign currency Add to the economic effects that contribute to the production of goods that are exported.
confirmed researcher economic importance of the study of five-year plans and decimals and long-term socio-economic development for shaping the country’s economy, pointing to the importance of reducing the deficit in the trade balance., and the deficit in the trade balance when the volume of imports in a particular state is greater than the volume of exports, or does not cover the volume of imports, the resulting deficit in the trade balance of the country. drew just need to export expansion after the development of the local industry and by strengthening marketing activities and support the activities of advertising abroad.

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