External Trade

Second quarter 2009

Highlights

1. Balance of Trade

Total exports for the first semester of 2009 stood at Rs 28,976 million against imports of Rs 53,890 million resulting in a trade deficit of Rs 24,914 million, which is 23.7% lower than the figure of Rs 32,656 million for the corresponding period of 2008.

2. Exports

Total export proceeds for the first semester of 2009 were valued at Rs 28,976 million, showing a decrease of 3.6% over the corresponding semester of last year.

During the first semester of 2009, almost 45% of exports consisted of articles of apparel and clothing accessories (Rs 11,937 million), 16.7% of “fish and fish preparations” (Rs 4,442 million) and 9.5% of sugar (Rs 2,536 million).

The main export market remained the European continent with a share of 67.4%, while on a country-wise basis, the United Kingdom was the main buyer, accounting for 30.0% of total exports. The other main markets were France (14.2%), USA (8.7%), Italy (6.6%) and Madagascar (6.5%).

3. Imports

Total imports for the first six months of 2009 reached Rs 53,890 million, going down by 14.1% over the first semester of 2008.

During the first semester of 2009,“Machinery and transport” equipment accounted for 22.0% of our imports, “Manufactured goods classified chiefly by materials” 18.8% and “Mineral fuels, lubricants and related materials” 15.4%.

The Asian countries supplied 48.6% of the imported products and another 27.8% came from European countries. The main source of imports was India (18.1%), followed by China (12.3%) and South Africa (9.5%).

4. Forecast

Based on figures for the first semester of 2009 and trends for previous years, total exports for the year 2009 are expected to be of the order of Rs 64,000 million, against imports of Rs 114,000 million. The trade deficit would therefore be around Rs 50,000 million.

September 2009


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