August 27, 2013

June imports down

The National Statistics Office (NSO) said yesterday imports went down 4.8 percent to $4.860 billion in June from the $5.103 billion recorded in the same month last year. The negative growth was brought about by six out of 10 major commodity groups whose yearon-year change was negative.

Payments for electronic products which was the top imported commodity in June, fell 24.8 percent. Transport equipment imports also dropped 33.7 percent.

The NSO said China remained the country’s biggest source of imports for June, accounting for a 14.1 percent share of the total import bill. Imports from China were valued at $685.16 million in June, 25.8 percent higher than the $544.85 million wants of imports last year.

Based on the latest imports and exports results, the balance of trade in goods registered a deficit of $370 million in June from the $789 million deficit in the same period last year. - WealthSec