During the first quarter of 2019, the deficit in the trade account contracted to US dollars 1,661 million from US dollars 2,982 million recorded in the first quarter of 2018, as export earnings increased by 5.6 per cent (year-on-year) while import expenditure declined by 19.3 per cent.
In March 2019, the deficit in the trade account narrowed to US dollars 592 million, compared to US dollars 871 million in March 2018.
The considerable reduction in the trade deficit in March 2019 was due to anotable decline in import expenditure by 12.6 per cent (year-on-year)which was further supported by the increase of exportearnings by 2.6 per cent (year-on-year).
Published Date:
Tuesday, May 28, 2019