Trade gap narrows as imports decline
The significant difference in the value of exports and imports over January-March this year led to the accumulation of a balance-of-trade deficit of US$502 million, a decrease of US$201.7 million compared with the corresponding period last year, Info-Prim Neo reports, quoting the National Bureau of Statistics.
The trade balance with the European Union ended in a deficit of US$147.4 million, as against US$ 282.9 million during January-March 2008, while with the CIS – of US$226.2 million, as opposed to US$250 million in the same period last year.
The degree of covering imports with exports was 35.8%, compared with 32.7% in January-March 2008.
Exports in March totaled US$111.9 million, up 15.4% from February and 16.8% from March 2008. Exports over January-March this year came to US$280 million, down 18.2% compared with the same period last year.
March imports added up to US$322.3 million, up 25.1% from February and down 22.1% from last March. Imports over three months came to US$782.0 million, a 25.2% decrease year on year.