DECISION

ON PROVIDING INFORMATION AND COORDINATING TO IMPLEMENT THE NATIONAL CREDIT RATING

Pursuant to the Law on organization of the Government dated December 25, 2001;

At the proposal of the Minister of Finance;

The Prime Minister issues the Decision on providing information and coordinating to implement the national credit rating

Chapter 1.

GENERAL REGULATION

Article 1. Scope of adjustment

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1. The provision of information and data on socio-economic situation for national credit rating.

2. The process of coordination between ministries, sectors and agencies involved in coordinating the implementation of the national credit rating.

Article 2. Subjects of application

This Decision applies to agencies, organizations and individuals involved in the implementation of the national credit rating.

Article 3. Explanation of term

In this Decision, the following terms are construed as follows:

1. National credit coefficient is the indicator of financial viability as well as the timely repayment capacity of principal and interest of debts of a country. The lower the national credit rating, the higher the risk of insolvency.

National credit coefficient includes:

- National credit ceiling;

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The credit coefficient is usually denoted by the letters, numbers, signs (A, B, C, D, a, 1, 2, 3, +, -).

2. National credit rating is that the credit rating organization performs the analysis and assessment of economic, political and social information of a country in order to give out the credit coefficient for that country;

3. Credit rating organizations are independent organizations which are specialized in credit rating particularly national credit rating.

4. Work of national credit rating is that the Ministries, sectors and organizations concerned provide data, work and exchange information with credit rating organizations to help them to give out the report on assessment of national credit rating.

5. Debt instruments are financial products to establish debt obligations of issuers, including bonds, government bonds, loans, financial products incurred debt obligations.

Chapter 2.

PROVIDING INFORMATION FOR WORK OF NATIONAL CREDIT RATING

Article 4. Purpose of providing information

The provision of information and data is for improving the database system and making overview report on Vietnamese socio-economic situation for work of national credit rating;

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The provision of information and data for work of credit rating must ensure the following principles:

1. Accuracy, completeness, updating and within the specified time limit.

2. Consensus on rate, form, method of calculation and consistency with the data provided or publicly announced.

3. Non-coincidence and non-overlapping, satisfaction of analysis and assessment requirements of credit rating organizations.

4. Consistency with current regulations on provision of information;

Article 6. Types of information necessary for work of nation credit rating

1. General socio-economic information:

a) Long-term strategy, medium-term plan, plan and solution for socio-economic development for years.

b) Statistic data on situation of performance and socio-economic forecast: economic growth, national income, income per capita, savings rate, investment rate, inflation indicator, population, employment, unemployment rate and other relevant information.

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a) Fiscal policies and medium-term financial – budgetary plans

b) Data on income, spending and balance of state budget.

c) Reform of state-owned enterprises

d) Government's debt situation; government’s provision debt obligations of government, public debt and country’s foreign debts.

dd) Other relevant information;

3. Banking and monetary information;

a) Monetary policy and the tools of monetary policy (rate, interest rate, compulsory reserve and open market).

b) Information about activity of State bank, credit organizations and banking system reform.

c) The situation and data on the balance of payments; foreign exchange reserves; bank credit; bad debts, appropriation of provision and bad debt treatment.

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4. Information on foreign economic relations

a) Import and export and trade balance.

b) FDI attraction

c) Receipt of oversea remittance.

d) Other relevant information;

5. Political information:

a) Lines and policies of the Government;

b) Personnel characteristics in the machinery of Government;

c) Relationship of Vietnam with the other Governments and international financial institutions;

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dd) Other relevant information;

6. Other socio-economic information on the basis of proposal of credit rating organizations, consistent with regulations of law provision capacity of Vietnamese agencies and organizations concerned.

Article 7. Term for provision of information

1. Information and data provided by the agencies concerned periodically (month, quarter, year) for the Ministry of Finance under the forms specified in the Annex issued together with this Decision. In case of failure of official data upon the time limit for provision, the agencies shall provide the most updated data for the Ministry of Finance;

2. Time limit for monthly provision of information is the fifteenth date of the following month;

3. Time limit for quarterly provision of information is the thirtieth date of the following quarter;

4. Time limit for yearly provision of information is the twenty-eighth date of February of the following year;

5. For data of plan and forecast for the following year to be yearly provided, the time limit for provision of information is the fifteenth date of December of the year of implementation;

Article 8. Method of provision of information

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2. For information and data in the list of State secrets, the provision of information and data shall be done in accordance with regulations of law on protection of state secrets.

Article 9. Responsibility of agencies

1. Ministry of Finance

a) Assuming the prime responsibility and coordinating with Ministries, sectors and organizations concerned to collect, analyze and prepare overview report on socio-economic situation for the work of national credit rating.

b) Exploiting information and data on the website of Ministries, sectors and organizations concerned.

c) Receiving information provided by the Ministries, sectors, organizations and individuals;

d) Providing information and data at the request of credit rating organization on the contents specified in Article 6, including but not limited to the data specified in the Annex issued together with this Decision.

dd) Using, storing, providing and publishing information and report in accordance with regulations of Vietnamese law and making agreement on cooperation with the credit rating organization.

2. Ministries, sectors and agencies concerned shall provide information and data for the Ministry of Finance so that it shall provide them to the credit rating organization.

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b) Ministry of Planning and Investment shall provide information and data on long-term strategy, medium-term plan, orientation and socio-economic development plan, national income, per capita income, growth prospect, savings rate, rate of social investment, information on FDI capital source and other related information in accordance with function and duties of the Ministry of Planning and Investment.

c) The Ministry of Industry and Trade shall provide data and information on import and export, trade balance and other related information in accordance with function and duties of the Ministry of Industry and Trade.

d) Other agencies shall provide information and data in accordance with function and management duties at the proposal of the Ministry of Finance on the basis of request of credit rating organization.

dd) Ministries and sector shall periodically provide data for the Ministry of Finance under the form in the Annex issued together with this Decision and the information and data at the request of credit rating organization in each specific time of work for the Ministry of Finance;

Chapter 3.

COORDINATING TO IMPLEMENT THE WORK OF NATIONAL CREDIT RATING

Article 10. Purpose and requirement

1. The work of national credit rating is a regular process for updated information exchange with investors, gradually raising the nation's prestige in the international arena and better meeting the economic integration requirements in the new period.

2. Raising the proactiveness and accountability of Ministries and organizations concerned in the work of national credit rating.

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4. The provided information and data and overview report on socio-economic situation and explanation should reflect fully and in line with the real state of the economy and comply with the provisions of this Decision.

5. Proactively learning experiences from the countries in the region and the countries that have succeeded in work of national credit rating. Promoting the role of the organization assigned to conduct and participate in the implementation of national credit rating.

Article 11. Process for implementation of national credit rating

The process for implementation of national credit rating includes the following steps:

1. Contacting, selecting and signing agreement to provide the services of national credit rating with the credit rating organization;

2. Developing plans and reaching a consensus on work program with the credit rating organization.

3. Developing overview report on socio-economic situation for presentation with credit rating organization.

4. Organizing working times with credit rating organization.

5. Providing information and data necessary at the request of credit rating organization.

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7. Credit rating organization shall announce the national credit rating;

Article 12. Selecting the cooperation and signing agreement upon provision of national credit rating services

1. The credit rating organization selected for cooperating and signing agreement upon provision of national credit rating services must ensure the following requirements:

a) Being prestigious in the international market.

b) Meeting the requirements for participation in international capital markets issuing debt instruments of the Government to the international capital markets.

c) Being consistent with the recommendations of investors and foreign lenders when deciding to invest in Vietnam.

2. Making agreement with the national credit rating organizations, including national following basic terms:

a) Information on credit rating organization;

b) Information on the representative signing the agreement;

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d) Rights, obligations and responsibilities of the parties.

The terms of providing information, data, monitoring, updating, analysis, assessment, security and announcement of national credit rating, handling of disputes and other related issues.

3. Fee of national credit rating services: including the fee of credit rating services for the first time, fee of maintaining annual credit rating, fee of using credit coefficient for issuance operations of Government debt instruments and other fees (if any)

4. Termination of agreement upon provision of national credit rating services in case of expiration or parties’ agreement upon termination of contract before due date.

5. Where considered necessary to cancel the current agreement with the credit rating organization and sign new agreement, the Ministry of Finance shall propose and consult the agencies concerned for submission to the Prime Minister for consideration and decision.

6. The Ministry of Finance representing the Government to sign agreement with the credit rating organization or announce the cancellation of agreement with the credit rating organization.

7. Where the credit rating organization voluntarily performs the national credit rating without requesting to sign an agreement to provide services, but requesting to provide information and proposing to work with Vietnamese agencies concerned, the Ministry of Finance shall consider and give specific guidance. In case of necessity, the Ministry of Finance shall assume the prime responsibility and notify the agencies concerned to arrange working times at the request of the credit rating organization.

Article 13. Making of working plan with credit rating organization

1. The Ministry of Finance is the focal contact with the credit rating organization to reach a consensus on plan and annual working contents between credit rating organizations with agencies, organizations and individuals in Vietnam;

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Article 14. Preparing information and data and developing an overview Report on socio-economic situation to be provided for credit rating organization

1. The provision of information and data for implementing the national credit rating shall comply with provisions in Chapter II of this Decision.

2. The Ministry of Finance shall assume the prime responsibility and coordinate with agencies concerned and consulting organization of national credit rating to develop an overview Report on socio-economic situation of Vietnam based on the information and data provided by the agencies concerned.

3. The draft report shall be sent by the Ministry of Finance to the agencies concerned to gather their opinions before provided for the credit rating organization.

4. The overview Report on socio-economic situation shall be sent to the credit rating organization at least 01 week before it comes to work directly in Vietnam.

Article 15. Working with credit rating organization

1. The Ministry shall chair the meetings and discussions with the credit rating organization periodically (annually) and irregularly (in case of significant changes on socio-economic situation).

2. The State Bank of Vietnam, the Ministry of Planning and Investment, the Ministry of Industry and Trade and other agencies concerned shall:

a) Arranging officials to work with the national credit rating organization consistently with the contents of discussions proposed by the credit rating organization;

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c) Answering and explaining information to the credit rating organization for questions arising after the meeting or upon request from the credit rating organization;

d) Sending additional explanatory information and data to the credit rating organization through the Ministry of Finance on the basis of the proposals of the credit rating organization;

dd) Proactively approaching the credit rating organization and providing information in case of necessity while notifying the Ministry of Finance to coordinate the monitoring.

3. Annually, the Ministry of Finance shall assume the prime responsibility and coordinate with the Government Office, the Ministry of Planning and Investment, Ministry of Foreign Affairs, Ministry of Industry and Trade, National Financial Supervisory Commission and the State Bank of Vietnam to held promotional activities, to meet and exchange information about the socio-economic situation of Vietnam for investors, international financial institutions, export credit institutions as OECD members and credit rating organizations to facilitate the , capital raising activities in the international market and improve the national credit coefficient.

Article 16. Making comments and recommendations on the judgments and assessments of credit rating organizations

1. The Ministry of Finance shall assume the prime responsibility and coordinate with the Ministries, sectors and agencies concerned to provide and supplement information, data and evidence to explain and clarify with the credit rating organization the contents of assessments which are not close or proper of socio-economic situation of Vietnam.

2. The Ministry of Finance shall assume the prime responsibility and coordinate with the Ministries, sectors and agencies concerned to request or propose the credit rating organization to review the national credit rating in accordance with the socio-economic situation of Vietnam.

Article 17. Announcement credit rating results and reporting regime

1. The Ministry of Finance is responsible for:

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b) Making annual report to the Prime Minister on the national credit rating result announced by the credit rating organization;

2. The Ministries, sectors and agencies concerned shall coordinate with the Ministry of Finance to report to the Prime Minister on the annual national credit rating result and propose solution to improve the national credit rating.

Article 18. Funding

The funding for the implementation of activities related to the national credit rating shall be disposed in the annual State budget estimate of related Ministries and units allocated by the competent agencies.

Chapter 4.

IMPLEMENTATION PROVISION

Article 19. Effect

This Decision takes effect on December 15, 2013;

Article 20. Implementation organization

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2. The Ministers, heads of ministerial-level agencies, heads of government-attached agencies, Chairman of People's Committees of provinces and centrally-affiliated cities and individuals concerned are liable to execute this Decision. /.

ANNEX

(Issued together with Decision No. 61/2013/QD-TTg dated October 25, 2013 by the Prime Minister)

I. DATA PROVIDED BY THE MINISTRY OF FINANCE

Table 1. Issuance of bills and bonds

Content

Unit

Quarter/year....

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VND

Billion dong

Divided by term

< 1 year

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> 1 year

USD

Million USD

Divided by term

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< 1 year

> 1 year

2. Debt payment

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Billion dong

Principal

Interest

USD

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Principal

Interest

3. Outstanding bills and government bonds

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VND

Billion dong

Divided by term

< 1 year

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USD

Million USD

Divided by term

< 1 year

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> 1 year

Table 2. Government’s domestic outstanding debts

Unit: Billion dong

Content

Year of implementation

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1. Bills

2. Bonds

3. Other debts

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a) Loan from State Treasury capital of Central Budget

b) Loan from accumulation funds for repayment

c) Loan from Social Insurance

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d) Loan from other sources

Total

Table 3. Information on state-owned enterprises

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Unit

Year....

1. Number of enterprises with 100% state capital

Enterprise

Total equity

Billion dong

Total assets

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Total liabilities

Billion dong

Total revenue

Billion dong

Total profit

Billion dong

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Amount paid to state budget

Billion dong

2. Number of enterprise with over 50% to <100% state-owned capital

Enterprise

Total equity

Billion dong

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Billion dong

Total liabilities

Billion dong

Total revenue

Billion dong

Total profit

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Amount paid to state budget

Billion dong

3. Number of enterprise with over 0% to 50% state-owned capital

Enterprise

Total equity

Billion dong

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Total assets

Billion dong

Total liabilities

Billion dong

Total revenue

Billion dong

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Billion dong

Amount paid to state budget

Billion dong

II. TABLES OF DATA PROVIDED BY THE STATE BANK

Table 1. Balance of payment

Unit: Million USD

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1. Export and import of goods

a) F.O.B export

b) F.O.B import

2. Export and import of services

a) Export

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b) Import

3. Income from investments

a) Revenue

b) Expenditure

4. Transfer (net)

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a) Private

b) Government

A. Current balance

B. Balance of capital and Finance

5. FDI (net)

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a) FDI into Vietnam

b) Vietnam's investment abroad

6. Medium and long-term loan

a) Disbursement

b) Repayment due

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7. Short-term loan

a) Disbursement

b) Repayment due

8. Investment in valuable papers

9. Money and deposit

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C. Errors and mistakes

D. Overall balance

E. Offsetting

10. Changes in net foreign currency assets

Changes in net foreign exchange reserves

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Credit from IMF

Table 2. Credit Growth

Content

Month/ quarter/year
(Billion dong)

Growth %

A- Total credit

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1. Credit for state-owned enterprises (enterprises with over 50% state-owned capital)

a) In VND

- From commercial banks

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b) In foreign currency

- From commercial banks

- From other institutions

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2. Credit for other enterprises

a) In VND

- From commercial banks

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- From other institutions

b) In foreign currency

- From commercial banks

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3. Credit for individuals

B- Total credit (divided by economic sectors)

1. Agriculture, forestry and fisheries

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2. Processing and manufacturing industry

3. Construction

4. Wholesale and retail sale, repair of automobiles, motorcycles and other motored vehicles

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5. Real estate business activities

6. Education and training

7. Health and social assistance activities

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C- Bad debts

1. Bad debts (Billion dong)

2. Bad debt rate compared with total credit (%)

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Table 3. Information on money supply

Unit: Billion dong

Content

Month/Quarter/Year

1. Broad money [(4) + (5)]

2. Total deposit [(3) + (4)]

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3. Deposit in VND [(3.1) + (3.2)]

3.1. Term deposit

3.2. Other deposits

4. Deposit in foreign currency

5. Liquidity by VND [ (3) (6)]

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6. Vietnam dong outside banks

7. Deposit in foreign currency /Broad money (%) [(4)/(1)]

8. Total assets of banking system

Table 4. Foreign exchange reserves

Unit: Million USD

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Month....

Assets abroad

Gold

Cash and deposit

Other

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GIR

Foreign currency deposits of credit institutions

Foreign debts payable

NIR

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Table 5. Nominal interest rate

Unit: %

Content

Quarter/Year

Mobilized interest rate (on average)

VND savings deposit (3 months), family household

Foreign currency (< 6 months)

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Foreign currency (> 6 months)

Lending rate (on average)

Working capital (short-term)

Fixed capital (medium-term)

Loan in foreign currency

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Table 6. Enterprise’s self-borrowing and self-liability for repayment of foreign debts

Unit: Million USD

Content

Year...

Opening foreign debt

In which:

- Short-term (<1 year)

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Number of loans in the period

In which:

- Short-term (<1 year)

- Long-term (>=1 year)

Debt repayment in the period

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Principal repayment:

- Short-term (<1 year)

- Long-term (>=1 year)

Interest repayment:

- Long-term (>=1 year)

Closing balance

In which:

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- Long-term (>=1 year)

III. TABLES OF DATA PROVIDED BY THE MINISTRY OF PLANNING AND INVESTMENT

Table 1. Foreign direct investment

Unit: Million USD

Information

Quarter/year

Registered capital

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In which:

- Industry and construction

- Agriculture, forestry and fisheries

- Services

Implemented capital

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In which:

- Industry and construction

- Agriculture, forestry and fisheries

- Services

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Information

Unit

Year of implementation

Year of planning

GDP

Billion dong

GDP

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GDP per capita

USD/person

GDP per capita ( by PPP)

USD/person

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Unemployment rate

%

In which:

- Urban area

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- Rural area

Poverty rate

%

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Creating new jobs

Job

CPI

%

IV. TABLE OF DATA PROVIDED BY THE MINISTRY OF INDUSTRY AND TRADE

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Unit: Million USD

Content

Quarter/year

1. Export

Growth of export (%)

Oil

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Rubber

Rice

Textile

Fisheries

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Rubber

Electronic goods

Other goods

2. Import

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Oil and gasoline

Fertilizer

Pesticide

Iron and steel

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Textile materials

Machinery and equipment

Other goods

3. Deficit/surplus of goods trade balance

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