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Trade : 285 million USD deficit in February

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Trade : 285 million USD deficit in February

The United States remains the main market for exports

According to the latest data, the trade deficit in February amounted to 285 million USD, marking a slight decrease from 295 million USD recorded in February 2023. This represents a reduction of approximately 4.8 % compared to the same period last year.

In February, exports reached around 165 million USD, down from 170 million USD in February 2023. Imports are also decreasing by -4.9 %, reaching 445 million USD, compared with Rs 465 million USD in February 2023.

Imports of Food & Live Animals decreased from USD 95 million in February 2023 to USD 92 million last February, contributing to a reduction in the food bill. Conversely, imported petroleum products saw a notable increase of 17 %, while imports of manufactured products classified mainly by material declined substantially.

Imports of machinery and equipment rose by 5 % over the course of one year. Meanwhile, trade witnessed a decline of 5.1 % year-on-year. Textile exports decreased by 14 %, while exports of manufactured goods edged down by 5 %.

In February, the United States emerged as the primary export market with a value of 22 million USD, followed by Madagascar and the United Kingdom. China remains the main import market, accounting for 80 million USD, with India and South Africa following suit.

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