In January, exports fell by 8.1 percent year-on-year to USD 13.30 billion. Sales of non-oil and gas products fell by 6.24 percent to USD 11.22 billion and those of oil and gas dropped by 16.98 percent to USD 2.07 billion.
Imports declined by 15.6 percent year-on-year to USD 12.59 billion. Purchases of non-oil and gas products fell by 7.83 percent to USD 10.48 billion and those of oil and gas declined by 40.42 percent to USD 2.11 billion.
Compared to the previous month, exports decreased by 8.51 percent. Oil exports declined by 11.75 percent and sales of non-oil and gas products fell by 8.51 percent. By products, sales of machines/electrical equipment decreased the most by 14.70 percent to USD 690.9 million, followed by machines/mechanical equipment (-10.02 percent to USD 426.9 million); fat and animal/natural oils (-9.55 percent to USD 1.54 billion); mineral fuels (-7.83 percent to USD1.52 billion) and rubber and rubber articles (-8.75 percent to USD458.6 million. In contrast, exports increased for: pearls/germs increased by 61.77 percent to USD 768.5 million; copper (+27.82 percent to USD179.8 million); processed foods (+19.09 percent to USD72.6 million) and iron and steel products (+1.62 percent to USD139.6 million).
Outbound shipments to the country's major trading partners were down except those to Taiwan. Sales to China decreased the most by 18.71 percent to USD 1.08 billion, followed by the European countries (-18.48 percent to USD 1.18 billion), the ASEAN countries (-4.68 percent to USD 2.33 billion)the US (-14.46 percent to USD 1.25 billion), Japan(-8.76 percent to USD 1.15 billion), India (-8.93 percent to USD 901.1 million) and South Korea (-6.63 percent to USD454.6 million). Sales to Taiwan, however, rose by 31.3 percent to USD 437.9 million.
Compared to the previous month, imports decreased 12.77 percent. Purchases of oil and gas in fell 37.59 percent while those of non-oil and gas fell by 5.15 percent. Imports declined for consumption goods (-31.24 percent to USD 12.59 billion) and raw materials (-13.41 percent to USD 9.60 billion). In contrast, imports of capital goods rose slightly by 0.09 percent to USD 2.2 billion). Inbound shipments from major destinations were mostly down except those from the EU countries, India and Taiwan. Imports from China declined the most by 8.09 percent to USD 2.69 billion, followed by the ASEAN countries (-5.66 percent to USD 2.14 billion), Japan (-4.26 percent to USD 1.17 billion), the US (-5.68 percent to USD 581.0 million), South Korea (-9.99 percent to USD613.5 million) and Australia (-19.93 percent to USD 355.9 million). Purchases increased from :the EU countries (+4.85 percent to USD 1.01 billion), India (+3.29 percent to USD 267.2 million) and Taiwan (+5.64 percent to USD 333.2 percent).
In December 2014, the country posted a USD 190 million trade surplus.