Economic Update: External Trade
Thursday 7th of November 2019
October Economic Update - External Trade
In September 2019, total exports (Free On Board) declined by 11% while imports (Cost, Insurance and Freight) increased by 4%, compared with September 2018.
The decline in exports was caused by a decrease in re-exports, which reflected the underlying effect of the re-export of project-related capital goods. However, there was an increase in domestic exports due to the significant rise in fish trade.
Total imports increased mainly due to two products: Transport equipment and food items.
Gross International Reserves
At the end of September 2019, Gross International Reserves stood at US$530.8 million, which was a decrease of 13% when compared with the previous month and a 6% reduction compared to September 2018.
