FIJI'S trade deficit amounted to $172.1 million for the month of June this year, compared with $189.6m recorded in May. more…
FIJI’S trade deficit amounted to $172.1 million for the month of June this year, compared with $189.6m recorded in May.
This means Fiji imports more than the country exports to other countries.
Recent figures revealed by the Fiji Bureau of Statistics state that the value of goods imported in June 2016 was $304.2m while the value of export was $132.1m.
Compared with June 2015, total imports and total exports decreased by $63.4m and $26.1m respectively.
The import of vehicles, aircraft and associated transport equipment recorded an increase in the month of June, up by $19.1m to $47.5m because of increased imports of used or reconditioned passenger motor cars.
Import of animal products recorded a decrease of $19.5m to $12.3m because of decreased import of fresh fish. This is 61.1 per cent drop from the same month in 2015.
Machinery and mechanical and electrical appliances and parts thereof import was down $9.8m to $56m because of decreased import of telephones for cellular networks and other wireless networks.
The bureau also recorded a drop in plastic, rubber and articles, down $9.4m to $11.3m resulted from decreased imports of articles of plastics for the packing of goods.
A drop in the import of mineral products was down $8m to $70.7m as a result of decreased imports of gas oil (diesel). Decreased imports were recorded in other products such as chemical and allied products, base metals and articles thereof and wood pulp, paper and paperboard and articles thereof.
Fiji’s major source of imports includes New Zealand, China, Singapore, Australia and Japan.
On another hand, export of prepared foodstuff, beverages, spirits and tobacco increased by 19.2 per cent, up by$5.4m to $33.8m.
This, according to the bureau is because of increased export of mineral water especially to the US. A decrease in export of pearl, precious, semi-precious stones and metal were recorded to decreased exports of gold.
Fiji’s major export destinations for the month of June include the US, Australia, Vanuatu, New Zealand and Samoa.