NOVEMBER 2016: Merchandise Trade News
Merchandise trade provisional figures for November 2016 recorded a deficit balance of VT2,702 million, a deterioration of VT 615 million or (19%) compared to November 2015. This trade deficit balance was due to the value of total imports VT3,193 million, exceeded that of total exports at VT491 million.
Domestic export earnings (excluding re-exports) for November 2016 stood at VT491 million, a significant increase of 36% or VT 129 million over November 2015.
In November 2016, for the main export commodities; Copra constituted the largest share in value at VT144 million or 29% , followed by kava at 26%, cocoa 20%, coconut oil and sawn timber at 5% each, fish at 3%, beef at 2%, and live fish at 1%, However, the rest of the commodities recorded less than 1% and other products at 8%. Other products comprised mainly of dried sea cucumber, sandal wood butt or flakes, and personal effects.
According to coconut product exports in value, copra increased by 59% or VT 54 million in November 2016, however coconut oil decreased by 66% or VT 44 million compared to November 2015.
Kava exports in value stood at VT 130 million in November 2016, representing a significant increase of VT 113 million over November 2015. However, Beef exports decreased by 82% or VT 36 million compared to VT 44 million in November 2015. Most of the beef was mainly exported to Japan, Papua New Guinea and the Solomon Islands.
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