The deficit in the balance of formal trade in goods was US$ 134.69 million in December 2024, a decrease of 45.08 percent compared to the previous month of November 2024. Year-to-year, the formal trade in goods deficit decreased by 63.46 percent on the deficit of December 2023.
Exports
In December 2024 domestic exports value increased by 1.06 per cent compared to November 2024 and by 58.58 per cent compared to December 2023. Table 2 shows the values of exported goods in December 2024 by SITC sections.
TABLE: Total Domestic Exports of Goods by S.I.T.C
| SITC SECTION/DESCRIPTION | Value: US $ Million | Shares in percentage | Percentage Increase/Decrease | ||||||
2023 | 2024 | 2023 | 2024 | Dec2024/Nov2024 | Dec2024/Dec2023 | ||||
Dec(R) | Nov¹ | Dec¹ | Dec(R) | Nov¹ | Dec¹ | ||||
| Food and live animals | 41.13 | 28.52 | 32.53 | 25.71 | 11.36 | 12.82 | 14.05% | -20.91% | |
| Beverages and tobacco | 0.15 | 0.02 | 0.06 | 0.09 | 0.01 | 0.02 | 144.87% | -62.53% | |
| Crude materials, inedible, except fuels | 18.04 | 19.62 | 21.38 | 11.28 | 7.82 | 8.43 | 8.98% | 18.57% | |
| Mineral fuels, lubricants and related materials | 0.65 | 0.50 | 0.23 | 0.40 | 0.20 | 0.09 | -53.39% | -64.23% | |
| Animals and vegetable oils, fats & waxes | 0.61 | 7.93 | 7.74 | 0.38 | 3.16 | 3.05 | -2.40% | 1169.40% | |
| Chemicals & related products | 1.31 | 1.61 | 1.71 | 0.82 | 0.64 | 0.67 | 5.91% | 30.80% | |
| Manufactured goods classified chiefly by material | 8.11 | 12.49 | 12.77 | 5.07 | 4.98 | 5.04 | 2.26% | 57.54% | |
| Machinery and transport equipment | 0.81 | 13.20 | 2.53 | 0.51 | 5.26 | 1.00 | -80.88% | 211.91% | |
| Miscellaneous manufactured articles | 1.64 | 3.02 | 2.02 | 1.03 | 1.20 | 0.80 | -33.10% | 23.26% | |
| Other commodities & transactions | 87.52 | 164.08 | 172.69 | 54.72 | 65.37 | 68.08 | 5.25% | 97.31% | |
| Total Domestic Exports | 159.95 | 251.00 | 253.66 | 100.00 | 100.00 | 100.00 | 1.06% | 58.58% | |
Imports
In December 2024, imports value decreased by 19.89 per cent compared to December 2024 and by 23.08 per cent compared to December 2023. Table 3 shows the value of imported goods in December 2024 by SITC sections.
Re-exports
In December 2024, re-export values decreased by 4.31 per cent compared to November 2024 but increased by 13.40 per cent compared to December 2023.