Economy

Exports up 13.2% in December

11 Feb 2014 - {{hitsCtrl.values.hits}}

The export earnings rose 13.2 percent year-on-year (YoY) to US $ 986.1 million while the import expenditure expanded 2.1 percent YoY to US $ 1.56 billion in December2013.

Export of industrial products increased by 15.2 percent YoY to US $ 741.2 million of which textiles and garments accounted for US $ 453.9 million, reflecting a 26.9 percent YoY increase.

Exports of rubber products accounted for a further US $ 93.9 million, up 22.4 percent YoY while exports of food, beverage and tobacco products remained flat at US $ 21.1 million and exports of mineral products dipped from US $ 9.2 million down to US $ 1.7 million.

Intermediate goods, which include fuel, accounted for the largest portion of imports costing US $ 936.3 million during the month, up 6.7 percent YoY.

Fuel imports accounted for US $ 453.6 million, reflecting a 21.4 percent YoY increase while textiles and textile articles declined 10.2 percent YoY reaching US $ 174.1 million. Investment goods imports dropped a sharp 22.5 percent YoY to US $ 310.9 million of which machinery and equipment imports declined 25.3 percent YoY to US $ 165.1 million.

Meanwhile, imports of building materials dropped 11.3 percent YoY to US $ 107.9 million while transport equipment was reported at US $ 37.5 million, reflecting a 35.4 percent YoY decrease.

Imports of consumer goods expanded 25.8 percent YoY to US $ 302.2 million comprising of US $ 137.4 million, up 22.5 percent YoY and other consumer goods which accounted for a further 164.9 million reflecting 28.8 percent YoY growth.

Workers’ remittances during the month grew 15 percent YoY to US $ 636.3 million while tourism earnings expanded 26.8 percent YoY to US $ 169.3 million.

Economy

Exports up 13.2% in December

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