4 Dec 2008

Samoa imported more goods than it exported in September

11:50 am on 4 December 2008

Samoa imported considerably more goods than it exported in the month of September says the latest Foreign Trade Report issued by the Central Bank of Samoa .

After declining in August the merchandise trade deficit which measures the value of imports against exports widened by 18 percent, jumping from 10.9 million US dollars to 70.1 million.

CBS says the deficit reflects lower level of export revenues and significantly high import payments for Samoa in during the month of September 2008.

Total export revenues dropped 8 percent in September 2008, following a significant decline in re-exports which fell four hundred thousand us dollars and a decrease in export revenue from coconut cream, handicrafts, coconut oil and coconuts.

CBS says the absence of koko Samoa and nonu fruit in September also contributed to the lower export revenue.

The drop more than offset higher earnings from nonu juice, fresh fish, taro, beer, drinking nuts and vegetables.

For the first three months of 2008/09, total export revenues were 30 percent lower that of the previous year earnings.