Trade gap narrows by Lm17m in first quarter

Export and imports were down in the first quarter, resulting in a reduction in the visible trade gap of Lm17.4 million to Lm98.2 million, from Lm115.6 million in the same period last year, the National Statistics Office said.

In April, total exports were down by Lm0.9 million when compared to the same month last year. Domestic exports dropped by Lm3.9 million to Lm58.9 million while re-exports increased by Lm3 million to Lm9.7 million.

Also in April, total imports were up by Lm9.1 million to Lm107.7 million. The importation of industrial supplies was up by Lm1.5 million to Lm55.8 million. Imports of capital goods increased by Lm2.2 million to Lm17.9 million.

At the same time the importation of consumer goods was up by Lm3.5 million to Lm26.8 million.

At Lm7.2 million, fuel imports were up by Lm1.9 million when compared to the same month last year.

Taking the figures for the first four months this year, total imports were down by Lm43 million or 10.1 per cent to Lm383.9 million from Lm426.9 million last year.

In the period under review, total exports declined by Lm25.6 million or 8.2 per cent to Lm285.7 million from Lm311.3 million last year.

While domestic exports dropped by Lm39.9 million to Lm246.7 million, re-exports went up by Lm14.3 million to Lm39 million from Lm24.7 million last year.