The balance of trade of Timor-Leste (East Timor) recorded a deficit of US$226.97 million in the first half of the year, the Directorate General for Statistics of the Ministry of Finance said in Dili.
In the first six months of the year Timor-Leste imported goods worth US$236.63 million and exported goods totalling US$9.65 million.
The value of exports is, however, inflated as it includes “re-exports” in the amount of US$9.36 million, which includes, for example, machinery that was imported to carry out work in the country and later left the country.
Genuine exports of Timor-Leste in the period reached approximately US$296,000, having fallen in the first two quarters of the year compared to the same periods of 2014, according to figures from the Directorate General.
The Directorate General for Statistics of the Ministry of Finance also said the country had recorded a deficit of US$126.17 million in the second quarter.
The first two quarters of this year recorded the lowest imports since the third quarter of 2013, reflecting an economic slowdown that began in late 2014, and the trade deficit was also the lowest since the same quarter of 2013. (macauhub/TL)