Brazil’s exports to Sao Tome in 2005 hit record levels

4 January 2006

Sao Tome, Sao Tome and Principe, 4 Jan – Exports from Brazil to Sao Tome in the first half of 2005 were worth US$ 200,000, a value six times higher than in the whole of the previous year, according to official figures released Wednesday.

Brazil’s exports to Sao Tome from January to July of last year had a total value in excess of the islands’ total imports from the Latin American country in the previous five years, the Central Bank of Sao Tome said.

Sao Tome’s imports from Angola in the same period of 2005 climbed in value to US$ 5.5 million, close to the level for the whole of the previous 12 months.

The archipelago’s biggest source of imports is Portugal and goods worth US$ 16 million were sold to Sao Tome by its former colonial ruler.

Total imports to Sao Tome in the first half of last year were worth US$ 28.7 million, giving the Gulf of Guinea microstate a trade deficit of US$ 26.8 million and the strong likelihood of a net trading gap for 2005.

Sao Tome’s central bank added that the country’s foreign debt until October 2005 amounted to US$ 364.6 million, 5 percent more than the previous year.

Debt service in the same period was calculated at US$ 6.32 million, some 9 percent more than the amount registered in 2004. (macauhub)