Trade gap increases by Lm23.5 million

by Anthony Manduca

In the first quarter this year, the visible trade gap increased by Lm23.5m to Lm86.2m from Lm62.7m in the same quarter last year, according to statistics released yesterday by the Central Office of Statistics.

During the first three months of the year, total imports increased by Lm73.3m or 29.1 per cent over the same period last year to Lm325.1m.

Imports of industrial suppliers were up by Lm38.3m to Lm186.0m from Lm147.7m last year.

The importation of capital goods increased by Lm16.5m or 48.4 per cent to Lm50.6m from Lm34.1m last year.

Totalling Lm65.2m, imports of consumer goods were up by Lm7.2m or 12.4 per cent when compared to the first quarter last year. In the same period, the country's fuel imports' bill increased by Lm11.3m to Lm23.3m from Lm12.0m last year.

In the quarter under review, total exports increased by Lm49.8m or 26.3 per cent to Lm238.9m from Lm189.1m in the same quarter last year.

While domestic exports were up by Lm46.9m or 27.6 per cent to Lm216.7 , re-exports increased to Lm22.1m from Lm19.3m last year.

In March this year, total imports increased by Lm25.0m or 26.9 per cent to Lm118.1m from Lm93.1m in the same month last year.

The importation of industrial supplies was up by Lm14.2m to Lm66.6m from Lm52.4m in March last year. In the same month, capital goods imports were up by Lm5.3m to Lm18.5m.

At the same time, while the importation of consumer goods was up by Lm1.0m to Lm25.1m, fuel imports increased by Lm4.5m to Lm7.9m from Lm3.4m in the same month last year.

In the month under review, total exports were up by Lm21.3m to Lm85.4m from Lm64.1m in March 1999.

Domestic exports increased by Lm18.4m to Lm77.8m from Lm59.4m last year. Re-exports went up by Lm2.9m from Lm4.7m last year to Lm7.6m this year.