Import - Export gap stretches

Trade deficit grows to $9.7 billion till August, customs revenues recoil by 19 percent

The balance of trade saw its deficit rise to $9.7 billion in the first eight months of the year, according to figures released by the Customs.

Imports up until August amounted to $12.6 billion. The value of exports over the covered period reached $2.9 billion.
The value of customs revenues up until August amounted to $996 million, a 19 percent drop relevant to the corresponding period of 2010.

Mineral Products (oil derivatives) topped the list of imports, as it accounts for around 20 percent of the total value of imports. Machinery Appliances came in second and represented 11 percent of the imports, followed by Chemical Products which accounted for nine percent. The biggest source of imports was Italy, followed by the United States, China, and France.

By the end of 2010, the trade deficit had reached $13.7 million, up from $12.7 million by the end of 2009.