News in Brief(20-02-2018)

China biggest trade partner for all states of Australia

CANBERRA, Feb 19: China remains the largest trading partner for all six Australian states, a report said on Monday. The "Australia's Trade by State and Territory 2016-17" report, released by the Department of Foreign Affairs and Trade (DFAT) on Monday, found that Western Australia (WA) remained the biggest exporter among Australia's states and territories in the 2016-17 financial year. WA, Australia's biggest state by land mass, accounted for 35.1 per cent of the country's total exports, followed by Queensland (22.4 per cent) and New South Wales (22.3 per cent). — Xinhua

Thailand maintains 2018 growth outlook on exports

BANGKOK, Feb 19: Thailand's economy posted its strongest growth in five years last year, with solid exports and tourism giving the government confidence to maintain the country's growth outlook for 2018. While the economy grew slightly less than expected in the fourth quarter as state spending slowed, resilient exports prompted the government on Monday to raise its outlook for exports, which have been the economy's main engine of growth. Exporters, however, face tougher challenges ahead from rising U.S. trade protectionism and a strong baht, hovering at four-year highs. It was down 0.1 per cent after the data. The economy grew a seasonally adjusted 0.5 per cent in October-December from the previous three months, National Economic and Social Development Board (NESDB) data showed, slower than 0.7 per cent forecast in a Reuters poll and 1.0 per cent growth in the previous quarter. — Reuters

Panama's free trade zone sees 24.7pc rise in Jan business

PANAMA CITY, Feb 19: Trade in the Panamanian free trade zone of Colon, one of the world's busiest FTZs, increased 24.7 per cent in January compared to the same period the year before, a top official said on Sunday. Manuel Grimaldo, manager of the FTZ, where nearly 2,500 companies are operating, said in a statement the zone saw over 1.718 billion U.S. dollars in trade in the first month of the year, including 775.5 million dollars in imports and 943.2 million dollars in reexports.

— Xinhua