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Friday, 24 August 2012 - 11:29
Trade balance deficit lowers
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Policies adopted by the Central Bank and the government earlier in the year have helped contain the deficit in the trade balance of the balance of payments substantially in June and across the second quarter of 2012.

The deficit in the trade balance, which was US dollars 848 million in June 2011 and US dollars 942 million in December 2011, was substantially lower in June 2012, amounting to US dollars 663 million.

This is the lowest level recorded by the trade balance since February 2011.

Expenditure on imports, which had decreased on a year-on-year basis since April 2012, recorded a further decline of 15 percent, year-on-year, in June 2012, as expenditure on several categories of imports, which had contributed significantly to the expansion of the trade deficit last year, declined.

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