15 March 2006

The Web
Business Today

Trade gap narrows in January

The trade gap in January this year narrowed by Lm21.3 million after registering higher exports and lower imports when compared to the same month last year.
Total imports in January reached Lm93.3 million, which represents a decrease of Lm8.3 million when compared to January 2005.
The importation of industrial supplies decreased by Lm2.9 million or 6.0 per cent to
Lm45.7 million, with imports of capital goods also showing a downward trend of Lm4.3 million or 22.8 per cent from Lm18.9 million to Lm14.6 million. Simultaneously, an increase of Lm2.4 million or 10.4 per cent was registered in imports of consumer goods with imports of fuel and lubricants for January 2006 decreasing by Lm3.5
million compared to the same month last year.
In the month under review, total exports reached Lm72.3 million, representing an increase of Lm13.0 million or 21.9 per cent over Lm59.3 million recorded in January of the previous year.
During January 2006 the visible trade gap narrowed by Lm21.3 million to Lm21.0 million from Lm42.3 million of the same month of 2005.
Total arrivals from the European Union for January 2006 reached Lm57.8 million or 62 per cent of total imports. The main trading partners within the EU were Italy, the United
Kingdom, Germany and France with Lm24.3 million, Lm9.5 million, Lm7.6 million and
Lm4.5 million respectively.
Imports from Asia totalled Lm18.6 million or 19.9 per cent, with Singapore registering Lm4.6 million followed by Japan and China with Lm3.9 million and Lm2.2 million respectively. Other significant import figures were registered from the United States of America with Lm5.3 million, Egypt with Lm4.3 million and Switzerland with Lm3.3 million.
Total dispatches to the European Union during the same month under review amounted to Lm32.5 million, representing 45.0 per cent of the total exports. France, Germany, the
United Kingdom and Italy with Lm10.0 million, Lm8.4 million, Lm7.1 million and Lm2.1million respectively were the four main trading partners within the European Union.
Simultaneously exports to Asia stood at Lm20.0 million or 27.7 per cent, while those to
North and Central America reached Lm13.4 million or 18.5 per cent, of which Lm12.7 million were exports from the United States of America.

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