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Trade deficit at $8.77 bn for April 1998

The trade deficit for April 1998 has been estimated at $ 8.77 billion as against $ 5.1 billion for the same month last year.

According to the government, imports during this period are estimated to be $ 3.45 million which is 13.93 per cent higher than the level of $ 3.03 billion for the same month the previous year.

However, oil imports during the same period were lower by 29.16 per cent at $ 4.8 million compared to the figure of $ 6.78 million for the corresponding period of the previous year.

Exports during April 1998 are estimated at $ 2.58 billion which is 2.21 per cent higher than the level of April 1997 of $ 2.52 billion.

The growth rates in April 1998 are positive in dollar terms, the government added.

UNI