Main Trading Partners Research Articles

Роль интересов экономического развития Бутана и Непала в определении их внешнеполитических стратегий

The article provides a comprehensive analysis of the economic situation in two small countries of South Asia – Bhutan and Nepal. The author has studied the agricultural sector, industrial, tourist, hydroelectric industries of their national economies, the range of goods produced by Bhutan and Nepal, as well as the circle of their main trade and economic partners. The role of income from labor migration for improving the well-being of the population of both states is considered separately. The author analyzes Bhutan’s and Nepal’s indicators of socio-economic development according to the UN classification. Based on the work carried out, the author comes to the conclusion that for both countries their economic and social interests play the key role in determining their foreign policy strategy. As landlocked countries with a complex and ambiguous history, their relations with two neighbors, India and China, are their priority. Taking into account the Indo-Chinese competitive interaction, it becomes obvious that the Governments of both Bhutan and Nepal are trying to find a balance between the two rival countries and their own national interests. However, they choose different balancing scenarios. Nepal is characterized by a clearly represented course towards the sovereignization of the country and its foreign policy with the creation of positive neutrality in relations with both neighbor states. The leadership of Bhutan, from the other side, traditionally chooses a pro-Indian course with cautious steps towards resolving contradictions in relations with China.

China as a Focal Point of Japan's Security Strategy

The article is devoted to Japan's modern security policy towards China. To date, both countries have become the main trade and economic partners for each other, but at the same time there has been a significant deterioration in political ties between them. The degree of conflict in Sino-Japanese relations has risen sharply in the past decade, despite the consistent efforts of Tokyo and Beijing to improve bilateral ties through political and diplomatic measures. A growing concern in Japan is China's offensive naval activity in the East and South China Seas, which are regarded by Tokyo as a sphere of its vital interests. The most acute points of confrontation between the two countries to date have become the situations around the Senkaku Islands and Taiwan, which are fraught with the transition to an armed clash. With the adoption by Tokyo in December 2022 of a new National Security Strategy, China has actually been elevated to the rank of the main military threat to Japan. In order to eliminate the "Chinese threat", Tokyo, in accordance with the said Strategy, has embarked on an accelerated build-up of its own military potential, making it more offensive in nature. At the same time, with an eye on China, there is a qualitative and quantitative strengthening of Japan's military cooperation within the framework of a security treaty with the United States. Along with this, Japan is striving to create a network of bilateral and multilateral alliances with an anti-Chinese orientation in the Asia-Pacific region. In addition, to confront China in the region, Tokyo is not only actively trying to win over non-regional players, primarily NATO countries, but also intends to establish cooperation with the North Atlantic Alliance at the institutional level. Such activity by Tokyo, aimed at containing China in the field of security, is strongly opposed in Beijing.

Statistical Analysis of International Merchandise Trade Between Latvia and Ukraine Using International Databases

Abstract The article considers the dynamics of international merchandise trade of Latvia and Ukraine (volumes of export and import of goods) in 2005–2020 with the use of UN Comtrade Database. The volumes of export and import of Latvia’s main international trading partners are given, the shares of partner countries in trade flows in 2021 are calculated. It is determined that Lithuania occupies a leading position among Latvia’s partner countries in export and import of goods. Data on international trade between Latvia and Ukraine, namely export and import of goods in 1994–2021, are presented. It is determined that international trade between Latvia and Ukraine has a steady development trend. The main goods exported from Latvia to Ukraine in 2021 are presented, their shares in the total volume of relevant international trade flows are calculated. The main goods imported to Latvia from Ukraine in 2021 are determined, their share in the total volume of import is calculated. Services are not included in any of the statistics presented here.

Місце країн Європейського Союзу на світовому фармацевтичному ринку

The purpose of the article is to determine the current state, features and prospects of development of the European Union countries in the global pharmaceutical market. The article presents the main indicators of the EU pharmaceutical sector in 2000-2021. It is determined that the pharmaceutical industry remains a key factor in the development of the economy of many European countries and is one of the most knowledge-intensive sectors of the economy. It is found that in 2021 in the production of pharmaceutical products among the EU Member States, the leaders were Italy, Germany, France and Belgium. Indicators of the share of leading exporters and importers in international trade in pharmaceutical products in 2021 are presented. The EU countries occupy leading positions in international trade in pharmaceutical products. In the global market, the leading exporter of pharmaceutical products in recent years is Germany. The indicators of foreign trade in pharmaceutical products of the EU from 2002 to 2021 are considered. It is found that the share of trade in pharmaceutical products in the EU’s total foreign trade is gradually growing. In 2021, the EU’s main trading partner for pharmaceutical products was the USA and Switzerland. To measure the identified comparative advantages of EU countries in the pharmaceutical sector, the article calculates an index of identified comparative advantages. The result shows that the export potential of the pharmaceutical industry in 16 EU countries is realized, and 11 countries still do not have a comparative advantage. It is determined that the COVID-19 pandemic has an ambiguous impact on the EU pharmaceutical market. On the one hand, COVID-19 can be seen as a great opportunity for the EU pharmaceutical industry, on the other hand, the pandemic has created significant risks for the pharmaceutical sector. It is defined that the prospects for the participation of the EU countries in the global pharmaceutical market and the priority vectors of development of the European pharmaceutical sector depend, first of all, on legislation and on demographic changes.

DEVELOPMENT OF THE MARKETING STRATEGY OF AGRICULTURAL SECTOR ENTERPRISES ON THE GRAIN MARKETS OF UKRAINE AND THE PEOPLE'S REPUBLIC OF CHINA

DEVELOPMENT OF THE MARKETING STRATEGY OF AGRICULTURAL SECTOR ENTERPRISES ON THE GRAIN MARKETS OF UKRAINE AND THE PEOPLE'S REPUBLIC OF CHINA

Экономические отношения Кыргызстана и КНР: история, проблемы, перспективы

The Kyrgyz Republic and the countries of Central Asia are key territories on the path to the implementation of the Silk Road Economic Belt within the framework of the Chinese One Belt, One Road project. After the collapse of the USSR, the entire post-Soviet space for the rapidly growing Chinese economy became even more important as a sales market, and the Central Asian republics, including Kyrgyzstan, turned into key, transit territories within the framework of the One Belt, One Road project. Based on the statistical data of the General Administration of Customs of China and Kyrgyzstan, as well as legal documents, the article examines the dynamics, features and prospects of bilateral trade and economic cooperation. The authors identified the main stages of interaction between the two countries, identified the problems and opportunities for trade and economic cooperation, which has been rapidly developing since the end of the last century. Bilateral dialogue in the trade and economic sphere has good prospects. To date, China has firmly taken the place of the main trading partner of Kyrgyzstan. However, despite the positive dynamics, a number of negative phenomena have been revealed in trade and economic relations. These phenomena were primarily associated with the consequences of the pandemic, the growth of Sinophobia, etc. At present, in all countries of Central Asia, including Kyrgyzstan, Chinese initiatives have both supporters and skeptics, as well as those who fear possible negative consequences in the implementation of Chinese projects. The authors note that there are fears in connection with the expansion and strengthening of the influence of the Celestial Empire in the region, which may have the consequences of territorial concessions to a strong neighbor in exchange for investment, fears associated with economic and migration expansion. But objectively, cooperation between the People’s Republic of China and Kyrgyzstan is gaining momentum, which can bring both benefits as well as certain challenges and risks.

Evolution of Mercosur intra-regional trade from 2016 to 2020

The first attempts at the Latin American integration process showed a highly pragmatic character, without many concerns for medium and long-term projects. The main concern was to expand intra and extra-regional trade. However, since the 1980s (the decade considered the lost decade for Latin America), when the external debt crises and the adjustment policies recommended by the International Monetary Fund (IMF) led the region to a higher poverty rate due to the social costs of such policies, Latin America has been rethinking its integration. The creation of LAIA (Latin American Integration Association), in 1980, replacing LAFTA (Latin American Free Trade Association), in 1960, and its sub-regional integration have changed Latin America’s economic growth trajectory from the 1990s. Within the scope of LAIA, Mercosur was created in 1991, with the objective of promoting intra and extra-regional trade expansion through the elimination of tariff barriers among its members, implementing a Common External Tariff. The full members of Mercosur are Argentina, Brazil, Paraguay and Uruguay. The bloc also has associated members: Bolivia, Chile, Peru, Colombia, Ecuador, Guyana and Suriname and observer members, namely Mexico and New Zealand. This work was developed to verify whether Mercosur, with the elimination of tariff barriers between full members and the Common External Tariff, has been able to meet its main objective, which is to expand intraregional trade among its members. Therefore, the main objective was to verify whether there was trade expansion between the bloc's full partners between the years 2016 and 2020. The methodologies used for this purpose were descriptive statistics and literature review. Aiming to evaluate the annualized rate of change of trade in the period covered, it was decided to use the Compound Annual Growth Rate (CAGR), which is a differential of this research. The results showed that within the bloc, Brazil had Argentina as its main trading partner. It was observed that there was an expansion of intraregional trade between 2016 and 2018, followed by a considerable reduction of this trade during the period 2019-2020, but that Brazil still continued to be the member that obtained the largest intra-regional trade balances. Paraguay, in turn, did not show the same trend of commercial reduction for all other partners in 2019 and 2020. In addition, in 2020, even with the COVID 19 pandemic, Paraguay managed to increase its exports to Brazil and Argentina, showing a contrary trend only to their exports to Uruguay. Uruguay, in turn, expanded its imports from partners throughout the period, except for Paraguay in 2020, where its exports exceeded imports. With regard to Argentina, its exports to members began to fall in 2019 and increased in 2020, especially in relation to Brazil. The country also drastically reduced its imports from Brazil and Paraguay in 2019 and 2020, although it also considerably expanded imports from Paraguay

Multilateral Economic Ties of Mongolia with its Asian Trading Partners in period of 2011-2021

This article gives insight of main aspects of Mongolian’s economy related to its Asian Trading Partners namely China, India, South Korea and Japan in period of 2011-2021. To give more clarity about the main trading partners of Mongolia there are two countries: China and Russia, but the author focuses only on the Asian trading partners. The main goal is to popularise still not well known economy of Mongolia and to see how it was developed in analysed period of 2011-2022. As the methodology of the research the author used empirical analysis based mainly on Macrobond data which also has access to Mongolian Statistics Office data and also to available world reports such OECD, UNCTAD. Besides that, the article was consulted with Mongolian Ambassador in Poland and it was enriched this way with his best knowledge regarding economy and Mongolia international trade and investment policy. The interesting aspect which was raised by the author in this article was the future state of economy of Mongolia after pandemic of SARSCoV-2 and impact of the restrictions imposed on Russia due to the war on Ukraine

EFFECTIVENESS OF THE DEEP AND COMPREHENSIVE FREE TRADE AREA IN GEORGIA

The purpose of the study it to estimate the ex-post impact of the DCFTA on trade between Georgia and the European Union, as well as evaluate the welfare results of trade creation and trade diversion effects. Through the investigation of the existing literature, we can observe that little research has applied theoretical gravity model with inclusion of the trade creation and trade diversion variables on assessment of the impact of DCFTA in the model for 2014-2021 period. Significance of the study stems from the limitation identified in the literature and necessity to assess the opportunities created as a result of the DCFTA in Georgia. The paper applies a well-known structural gravity model. Evaluation is based on the panel dataset that includes bilateral trade flows of Georgia with European Union countries and main trade partners. We analyse data for 18 years, from 2004 to 2021. Final dataset contains 1440 observations. According to research results, the gravity model estimation showed that though positive, the impact of DCFTA on trade is not statistically significant. Research results suggest that due to the DCFTA, EU-Georgia trade increased approximately by 17% and the agreement has a trade creation effect.

The Philosophy of External Public Debt Management

The main goal of the presented article is to propose effective solutions in the philosophical context of the management of the foreign public debt of RA. The Government of the RA should adopt as a priority the philosophy of attracting borrowed funds from the domestic market. Considering also the fact that the Republic of Armenia relied on the philosophy of ensuring double-digit economic growth, having a long-term goal to increase the real GDP indicator, which will ultimately contribute to reducing the volume of debt obligations. As a priority contributing to this goal, the RA Government intends to significantly increase the volume of trade turnover[1], especially in connection with the current geopolitical situation, when Armenia, in particular, is the “gateway of Europe” for Russia, which is the main trading partner. [1] In 2021, major trading partners of the RA included Russia from the CIS countries (31.4% of trade turnover, compared to 30.6% of the previous year), and from the EU and other countries China (15% and 13.5%, respectively), Iran (6.0% and 5.6 %), Switzerland (4.6% and 6.6%), Germany (3.5% and 4.2%), Italy (3.4% and 3.3%), Bulgaria (2.7% and 2.4%) and the Netherlands (2.7% and 1.8%). Source: RA Ministry of Finance www.minfin.am.

Consequences of russia’s military invasion of Ukraine for Polish-Ukrainian trade relations

An accurate forecast of interstate trade volume allows for short-term and long-term planning, particularly deciding on state budget revenues, foreign exchange earnings, border arrangement, other infrastructure, migration and social policies. Hostilities are destructive so the russian military aggression against Ukraine in 2022 needs to be assessed in terms of its effects on key economic aspects of Polish-Ukrainian relations, as Poland has been the main economic, trade and social partner of Ukraine in recent years. This article analyses the trade dynamics between the two countries since 2005. It was found that since 2015 the main trends of this dynamics have changed. Monthly data from 2015 to 2021 were used for modelling and forecasting. Relevant SARIMA and Holt-Winters exponential smoothing models were built. These models forecast the volume of trade for the fourth quarter of 2021 and the first quarter of 2022. The relative errors of forecasting (compared to actual data) for October, November and December 2021 were as follows: according to the SARIMA model – 0.8%, 3.6% and 2.3%, respectively; for the Holt-Winters model – 1.9%, 3.6% and 0.7%, respectively. Given the expectations and consequences of russia’s military aggression against Ukraine, the average projected trade turnover between Ukraine and Poland was reduced by 20% per month for the first quarter of 2022. In comparison with the available actual (preliminary) data for January 2022, such a pessimistic forecast gave the following relative forecasting errors: according to the SARIMA model – 3.8%; according to the Holt-Winters model – approx. 1%.

Misinvoicing in Benin's International Trade: An Analysis from Mirror Statistics

The aim of this work is twofold : to measure the level of misinvoicing in Benin's trade with its main trading partners and to determine its causes. First, based on mirror statistics, we estimate the gross trade discrepancies at about $3.065 billion on average over the period 2000-2017. Its very important development represents more than 350% increase in 18 years. Fraud is dominated by under-invoicing of both imports and exports. The countries most prone to fraud are mainly Asian countries (China, India, and Malaysia), while the most misreported products are mainly those with low proportions of trade (fabrics, textiles and second-hand goods, palm oil, vehicles and motorcycles, cashew nuts, wood and wooden goods). Second, the econometric results obtained from the Pannel Corrected Standards Errors (PCSE) methods showed that the determinants of misinvoicing are customs tariffs, the Benin/Nigeria tariff differential, the share of trade in a product, and indicator variables such as the introduction of the PVI, the perishability of a product, the region of origin, and the tariff and non-tariff measures enacted in recent years. In light of our results, Benin needs to review its trade policy and work toward more effective management of its international trade flows. At the same time, international organizations such as the WTO and the WCO must cooperate and coordinate the management of international trade to control fraud.

Management of foreign economic activities of business subjects

The article summarizes the essence and content of the enterprise's foreign economic activity. The main advantages and disadvantages of managing foreign economic activity by business subjects of economic relations in modern international market development are determined. Methodical approaches and methods of managing the foreign economic activity of companies are systematized. The economic analysis of the current development state of foreign economic activity in Ukraine, the dynamics of the scale of export-import operations, the geographical and commodity structure of foreign trade operations of business entities of the national economy are conducted. It was determined that the most active participants in foreign economic activity in Ukraine are business entities operating in the sphere of industry and the agricultural sector. In terms of territory, management of foreign economic activity is focused on the countries of the European Union, China, and Turkey. The main trends of world trade in the context of strategic cooperation with EU countries have been studied. Poland is the main trading partner of Ukrainian companies conducting foreign trade operations. The key objects of management of foreign economic activity in terms of corporate management have been determined. It was found out that the management of foreign economic activity under modern conditions faces a large number of challenges and threats, the main of which are: foreign culture and national traditions, currency relations, macroeconomic instability of the world market, difficulties in geopolitical international relations, the difficulty of forming an international team of personnel in the companies. The system of specific international indicators, which testify to the state of development and the level of attractiveness of the country's economy for the implementation of foreign economic activities, has been studied. Problematic aspects of the management of foreign economic activity in Ukraine from the standpoint of ratings by world agencies have been identified. The key areas of state regulation and management of foreign economic activity at the level of business entities are substantiated, taking into account the principles of the global concept of sustainable development. Keywords: foreign economic activity, management, management of foreign economic activity, business entities, export-import operations, international market, efficiency.

EXPORTS OF UKRAINIAN AGRICULTURAL PRODUCTS TO THE EUROPEAN UNION: ANALYTICAL ASSESSMENT, PROBLEMS AND PROSPECTS

The purpose of the work is to study the issue of domestic exports of agricultural products to the European Union (EU). Methodology. General scientific economic and mathematical methods as analysis, synthesis, abstraction, concretization and special methods as comparison, tabular were used. Results. It is noted that an important step in terms of deepening trade relations between Ukraine and the EU was the conclusion of the Association Agreement and the establishment of a free trade area in the framework of this Agreement. For Ukraine, this is both one of the greatest achievements (in terms of shaping the worldview and social development) and a challenge (in terms of ensuring economic growth of the country, search for internal sources and incentives). It is noted that European guidelines provide the agricultural sector with an effective direction of development and reveal modern opportunities for its recovery, create additional preferences in the agri-food market. It is investigated that since the beginning of 2014 there have been dramatic changes in the geographical structure of domestic exports. Before that, about a quarter of goods were sent to the EU countries, about a third – to the markets of the CIS countries, the rest – to other countries. During 2014-2020, this distribution changed towards a significant decrease in the share of the CIS countries and a gradual increase in the share of the EU and other countries of the world. The article provides an analytical assessment of the geographical structure of Ukraine's merchandise exports by three main blocks of countries – the EU, the CIS and the rest of the world. The role and importance of the free trade area between Ukraine and the EU, which is a powerful milestone in bilateral trade relations and opens new economic opportunities for both the EU and Ukraine, is determined. The main trading partners of Ukraine in the export of goods are characterized. The geographical structure of exports with the EU countries is investigated and it is noted that Ukraine supplies goods to almost all EU countries. The total value of exports in 2020 decreased by 1552103 thousand US dollars compared to 2018. The largest share of exports falls on Poland, Germany, Italy, the Netherlands and Spain. The commodity structure of agricultural exports with the EU countries during 2018-2020 was studied, a significant share of agricultural products was noted, which ranges from 34%. Practical implications. The factors that influenced the formation of exports in 2020 are identified. The problems that affect the development of exports and the prospects for its increase are identified.

Exchange rate volatility and trade flows in Indonesia and ten main trade partners: asymmetric effects

Purpose This paper aims to examine whether Indonesian cross-border trade responds asymmetrically to exchange rate volatility (ERV). Design/methodology/approach An exponential generalized autorgressive conditional heteroscedasticity model is applied to estimate the ERV of Indonesia and ten main trade partners using quarterly data from 2006 to 2020. A nonlinear autoregressive distributed lag estimation is applied to estimate the impact of ERV on cross-border trade. Impacts from the global financial crisis (GFC) of 2008 and the COVID-19 pandemic are covered. Dynamic panel data is used for the robustness test. Findings In the short-run, ERV significantly affects exports to most of the top partners (positively, negatively or both). In the long run, asymmetric effects occur in Indonesia’s exports to five top destinations. The weakening of the Indonesian Rupiah mainly supports exports in the short term. Imports from top partners are also affected by ERV in both the short run and, to a lesser extent, in the long run. Both the GFC and the COVID-19 pandemic reduced trade: for most cases, in the short run. The dynamic panel model suggests that ERV has asymmetric impact on cross-border trade in the long run. Practical implications Exchange rate strategies need to avoid a single-side policy approach and, instead, account for exporter and importer differences in risk behaviour and an asymmetric response to ERV in trade. Policymakers need to consider policies that stabilise the currency. Originality/value This study provides evidence that cross-border trade can react asymmetrically to the exchange rate uncertainty and that the impacts of real ERV are asymmetric as well. The authors also apply a dynamic panel that signals that ERV matters in the long run for Indonesian trade with top partners.

Strategic alternatives for Saudi foreign policy. Comparative analysis of Riyadh's relations with Washington, Beijing and Moscow

The foreign policy of the Kingdom of Saudi Arabia (KSA) has undergone significant changes since Crown Prince Mohammed bin Salman (MBS) became the de facto head of state. Riyadh has begun to pursue a proactive policy at the regional level, while at the global level, Saudi Arabia is pursuing a policy of balancing, as it is afraid of being drawn into the struggle of the great powers. Simultaneously, the KSA is striving to diversify its external relations, preparing for the planned reduction of the American presence in the Middle East and the Gulf. The article focuses on whether the rapprochement of the KSA with China and Russia can become an alternative to the strategic alliance of the kingdom with the United States. The author aims to analyze the peculiarities of relations of the kingdom with each of the powers and to identify trends in their further development. The article analyzes cooperation on security issues and economic cooperation. It concludes that the KSA is still interested in maintaining and developing strategic relations with the United States, which remains its key ally and an important economic partner. Relations with China, which has become the main trading partner, are built according to the «economy plus» formula, which suggests gradual development of political ties. Russia is important as a partner in the energy market within the OPEC+ format, and can also help resolve several regional crises. A comparative analysis of Saudi Arabia's relations with the United States, China and the Russian Federation shows that in the medium term there is no alternative for Riyadh but to maintain and develop relations with Washington.

Sustainability as added value in the Brazil-China relationship

China's goal of peaking carbon emissions before 2030 and reaching neutrality by 2060 shows the effort to face the tension between environmental pressure and economic growth, which became more evident with the Covid-19 pandemic. Fighting climate change means seeking a new stage of economic and technological development, with sustainability becoming a main issue for the international trade, especially in the relationship between Brazil and China. Brazilian production faces social, environmental and corporate governance challenges to meet the Chinese demands. But Brazil has the natural and technological capacity to become a reference in the sustainable production of bioinputs, including of the agricultural commodities. China, for its part, has growing concern about the sustainability and the resilience of its supply chains. As China is Brazil's main trading partner, orchestrating these interests can be a win-win situation for both countries. However, several political and institutional challenges need to be overcome. This article makes use of a literature review to identify these points of congruence and challenges in order to contribute to a better understanding the context and thus inform decisions and policies on the subject.

FDI Spillover Channel and its Effect on Innovation

In an increasingly globalized environment, one of the important aspects for knowledge development and usage has been the advantage of benefiting from knowledge spillover across international boundaries. The knowledge literature recognizes the importance of the combining internal and external knowledge in the innovation process. Knowledge spillover from abroad is an important channel of external knowledge needed to complement the innovation activities in the domestic economies of countries. However, the complementarities of external knowledge and domestic innovation activities also remains a thorny issue that remain unresolved in the knowledge literature. On one hand, there is a believe that combinatorial efforts of domestic and foreign knowledge activities are a good recipe for innovation. There are other strands of literature that are concerned that when foreign knowledge is not complementary with domestic innovation activities increased innovation may not be realized. Contrary to the widely held view of the positive impact of FDI on host economies, the literature shows a rather complex relationship between FDI and economic outcomes in V4 countries. OECD countries, being the main trading partners of V4 countries, the study therefore investigates the FDI channel for knowledge spillover from OECD countries and how such knowledge spillover complements V4 countries innovation activities to affect innovation outcomes. Data for the study is panel data on the V4 countries, spanning 2003 to 2012 which is sourced from the OECD database. The study applies panel regression analysis and controls for country and time fixed effect to determine the role of FDI knowledge spillover from OECD countries on innovation outcome in V4 countries. The findings of the study indicate that proportionate change in innovation is greater than a proportionate change in FDI knowledge spillover in the opposite direction. The results of the analysis show that knowledge spillover from FDI does not complement V4 countries’ internal R&D activities to improve innovation. FDI knowledge spillover channel is not a good complement to domestic R&D activities to enhance V4 countries’ innovation performance. It is concluded that, FDI knowledge spillover channel does not complement innovation activities to improve innovation outcome. The study provides useful practical implications and recommendations.

DAMPAK PANDEMI COVID-19 TERHADAP KONTRIBUSI NILAI PERDAGANGAN INDONESIA-CHINA (CATRUWULAN I TAHUN 2020)

The background of this research is the decline the value of exports from China to countries in Asia including Indonesia due to the Covid-19 pandemic since December 2019. Indonesia has imposed import restrictions on certain products from China to minimizing the spread of the Covid-19 virus. The purpose of this study is to analyze the value of Indonesia-China trade in the first quarter of 2020. The research method used was a descrptif quantitative with the main data being the value of exports and imports between Indonesia and China obtained from data from the Indonesian Central Statistics Agency. The results of the study of the data obtained, that trade between Indonesia and China still provides a fairly large contribution value to Indonesia's foreign trade. This contribution is expressed as a percentage of Indonesia's total exports to China and imports from China to Indonesia. The recommendation based on the results of this study is that Indonesia-China trade should be maintained because China is the main trading partner country to maintain the continuity of Indonesia's economy

The Factory and the Hub: An Anatomy of Canada’s Import Dependence on the US

We revisit the reliance of Canada on the US for its imports using new product-level data on the country of origin, the last exporting country, and the transport mode of Canadian imports. We not only show that the US is a key supplier of Canada, but also a key logistical hub: half of the imports from non-US suppliers enter Canada through the US. Therefore, 77 percent of Canadian imports are tied to the US through production or logistical linkages, well above the 55 percent usually reported in the public debate. We show that this reliance on the US is pervasive across most product categories and for Canada’s main trade partners. We exploit this new measure of reliance on the US together with input-output tables to quantify the direct and indirect reliance of Canadian industries on the US through their input usage. For the average Canadian industry, the US-related content of its inputs reaches 24 percent. We finally discuss some of the policy implications of these results.