Exports up 15 per cent

Exports increased by Lm10.9 million to Lm82.9 million in May compared to Lm72 million in May 2005, while total imports reached Lm112.5 million, Lm8.3 million less when compared to May 2005, the National Statistics Office said yesterday.

In the period January-May 2006, total exports increased by Lm49.9 million, or 15.3 per cent, to Lm375.8 million from Lm325.9 million in the same period in 2005.

Total imports during this period increased by Lm52.4 million or 10.1 per cent to Lm571.3 million from Lm518.9 million for the same period of last year.

During May the visible trade gap narrowed by Lm19.2 million to Lm29.6 million from Lm48.8 million of the same month in 2005, with the overall visible trade gap for the first five months of 2006 widening by Lm2.5 million to Lm195.5 million from Lm193 million reported for the period January-May 2005.

During the first five months of 2006, imports from European Union countries reached Lm379.8 million or 66.5 per cent of total imports. The main trading partners within the EU were Italy, the United Kingdom, Germany and France with Lm158.9 million, Lm54.8 million, Lm48.6 million and Lm45.1 million respectively.

Imports from Asia totalled Lm94.6 million, or 16.6 per cent of total imports, with Singapore registering Lm23.7 million, followed by China with Lm14.0 million and Japan with Lm13.8 million.

Figures indicate that imports from North and Central American countries totalled Lm43.4 million or 7.6 per cent, of which Lm39.3 million came from the United States, while those from other European countries reached Lm24.4 million or 4.3 per cent.

Total exports to the European Union for the period January-May amounted to Lm190.7 million, representing 50.7 per cent of the total figure for exports.

France, with Lm55.9 million, followed by Germany with Lm49.9 million, the United Kingdom with Lm37.6 million and Italy with Lm13.6 million were the four main trading partners within the EU.

Exports to Asia stood at Lm99.3 million, or 26.4 per cent, while those to North and Central American countries reached Lm54.9 million, accounting to 14.6 per cent.