The downward was attributed to the government’s import prevention measures, including higher import tax rates on a number of inessential goods and importers’ decision to reduce imports and strictly control the foreign exchange market.

The value of necessary import products such as steel, petrol, machinery and equipment, normal metals, fertilizers and paper pulp is estimated to reach US$63 billion, an increase of 28.4 percent over last year but US$4.2 billion below target. It represents 78.6 percent of the country’s import value.

The import value of products under control, including coke coal and petro-chemical products, gem stones, gold and diamond, is expected to reach US$12.9 billion, a 32.9 percent increase over last year, representing 16.1 percent of the total import value.