The trade deficit of Sao Tome and Principe reached 2.864 trillion dobras (US$124.5 million) in 2016, the National Statistics Institute (INE) told Macauhub on Thursday.
The deficit resulted, according to INE’s information, from imports of US$134.6 million and exports of US$10.1 million.
Imports recorded in 2016 decreased in value by 14.3% and imports rose by 14.3%.
The import-export coverage rate improved by one percentage point, rising from 6.5% in 2015 to 7.5% in 2016.
The archipelago of Sao Tome and Principe is more than 80% dependent on external support to finance the state budget, with average annual costs estimated at just over US$150 million. (macauhub)