CONSEQUENCES OF THE CRISIS 61
Table 3.2 Dependence on U.S. imports, appreciation against the U.S. dollar, and reserve status
Real
U.S. wheat imports (percent
Country or region Middle East and
North Africa
Caribbean 28 Dominican Republic
46
Haiti 26 Trinidad and Tobago
48
Jamaica 26 Central America Costa Rica El Salvador
45 55 31
Guatemala 46 Honduras 45 Mexico 20 Nicaragua 46 Panama 44 South America
4
Colombia 23 Ecuador 9 Peru 9 Venezuela 27 10
Sub-Saharan Africa Non–oil-producing countries
Ghana 10 Nigeria 42 East Asia
Hong Kong
2 1
Japan 26 Republic of Korea South Asia
16 0.3 Southeast Asia 12
Thailand 19 Philippines 32
36 49
n.a. 95
100 24 47 21 20 21 13 9
80 1
31 23 6
22 0
0 0 7
49 90 28
0.4 1 0 0
15 12
5a
18 15 10 10 8
26 12
3.5 2.6 3.0
n.a. 4.1 3.5
n.a. 3.2 4.1 3.5
–2 3.7 4 0
25 41 8
20
1.7 4.1 8.7 6.3 2.5
15.5
–12 n.a. 40
7.0 5.0
35 42 1
15 22 25 30 29
2.2 20.6 n.a.
–21 n.a. 2
n.a. n.a.
5.6 (4.0)b 6.0 7.1 6.3
Sources: Calculations by the authors using data from USDA (2008c) for imports and from IMF (2008b) for exchange rates.
Note: n.a., data not available.
aOnly the nominal exchange rate is reported for Haiti because of a lack of inflation data. bAverage excludes India.
U.S. maize imports (percent
15
appreciation against
consumption) consumption) (percent change) 2
20 Foreign
U.S. dollar, reserves, 2008 2002–08 (months of imports)
15.0
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