import value also experienced significant decline in both volume and price, in response to slowdown in domestic and external demands. Import prices decreased in tandem with a substantial drop in crude oil price during H1:2009. Like exports, such import contraction was evidenced across every product category.
Large import contraction was particularly observed in capital goods, raw materials and intermediate goods. The import value of capital goods was reduced mainly due to a decline in the imports of electrical machinery and parts and industrial machinery, tools and parts. As for raw materials and intermediate goods, the import of all products declined especially those pertaining to iron and steel, which was partly affected by lower domestic demand and declining prices following a drop in world commodity prices. Also, imports of electronic parts contracted in tandem with sluggish exports.
import value also experienced significant decline in both volume and price, in response to slowdown in domestic and external demands. Import prices decreased in tandem with a substantial drop in crude oil price during H1:2009. Like exports, such import contraction was evidenced across every product category.
Large import contraction was particularly observed in capital goods, raw materials and intermediate goods. The import value of capital goods was reduced mainly due to a decline in the imports of electrical machinery and parts and industrial machinery, tools and parts. As for raw materials and intermediate goods, the import of all products declined especially those pertaining to iron and steel, which was partly affected by lower domestic demand and declining prices following a drop in world commodity prices. Also, imports of electronic parts contracted in tandem with sluggish exports.
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