Two-way trade transactions for the first ten months of 1999 went up by 10.3 percent to $54.738 billion from $49.611 billion last year. Merchandise exports valued at $29.017 billion posted a 19.0 percent increase from $24.387 billion in 1998. Import payments amounted to $25.721 billion, which was 2.0 percent higher than $25.224 billion a year ago. The balance of trade in goods (BOT-G) was still at a surplus, up by 493.8 percent to $3.296 billion from deficit of $837 million (See Fig. 2A).

Total merchandise trade from January to November 1999 with the rest of the world went up by 10.2 percent to $60.162 billion from $54.570 billion last year. Merchandise exports valued at $32.089 billion posted a 19.0 percent increase from $26.973 billion in 1998 while total imports rose by 1.7 percent to $28.072 billion from $27.597 billion a year ago. The balance of trade in goods (BOT-G) stood at a surplus of $4.017 billion, a sharp reversal from the deficit of $624 million last year (See Fig. 2A).

Total merchandise trade with the rest of the world went up by 11.2 percent to $65.759 billion for the whole year 1999 from $59.155 billion in 1998. In contrast there was a 3.3 percent decline in 1998. Merchandise exports of $35.033 billion in 1999 posted an 18.8 percent increase from $29.496 billion in 1998 while merchandise imports of $30.726 billion rose by 3.6 percent from $29.659 billion. The balance of trade in goods (BOT-G) for 1999 stood at a surplus of $4.307 billion, which was a sharp reversal from the deficit of $163 million in 1998(See Fig. 2A).