Sao Tome and Principe posted a trade deficit of 2575.8 billion dobras (US$143 million) in 2012, the archipelago’s National Statistics Institute (INE) said Tuesday in Sao Tome.
According to the figures published by INE for 2012, Sao Tome and Principe imported goods worth US$149.5 million and exported goods worth US$6.4 million.
As a result, the rate of coverage of imports by exports fell 0.1 percentage points to 4.3 percent.
Also according to INE, the balance of trade deficit in 2012 increased by 14.4 percent as compared to the deficit of US$125 million in 2011.
The increase in the trade deficit over the last few years in Sao Tome and Principe is essentially due to a drop in agricultural exports, mainly cocoa, which is the basis of the country’s economy. (macauhub)