Sao Tome and Principe posts trade deficit of US$154.5 million in 2014

24 February 2015

The trade balance of Sao Tome and Principe 2014 recorded a deficit of 154.5 million dollars, an increase of 11% over the deficit recorded in 2013, reported the National Statistics Institute (INE).

The information sent by INE Macauhub in Sao Tome indicates that the recorded deficit was the result of imports of 164.5 million dollars and exports worth 10 million dollars.

The INE also said that the export coverage rate of imports was 6.2% from January to December 2014, compared with 4.6% in 2013.

From January to December 2013 imports reached 145.9 million dollars and exports amounted to 6.7 million dollars.

The archipelago of Sao Tome and Principe depends in more than 80% of external support to finance the state budget, which this year includes expenses of $ 150 million.

Despite the existence of a joint oil exploration zone with Nigeria, as well as another exclusive maritime area, the surveys carried out not discovered deposits of commercial value. (Macauhub / ST)