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And in regards to external trade, imports increased by 13.7% while exports decreased by 8.1% for the month of February 2024. SIB Statistician Ronald Orellana explained what caused the fluctuation.
Ronald Orellana, Statistician, SIB
"The total imports for the year amounted to $499.8 million, up 21.2% or 84.7 million dollars when compared to imports of the first two months of 2023."
"With a high value industrial generator imported at the beginning of the year, the machinery and transport equipment went up by 66 million, from 77.8 million in 2023 to 143.8 million in 2024."
"Total domestic exports for the first two months of the year amounted to 37.5 million dollars, down 20.3% or 9.6 million dollars when compared to exports of the first two months of 2023."
"Animal feed revenue plummeted from 10.1 million to 2.8 million as exported quantities fell by more than 2/3 during the period. Likewise, sugar exports saw a notable decrease of 6.8 million, dropping from 10.7 million to 3.8 million with earnings down by 64%."
