Sudan’s Trade deficit declined by 30 percent

  • Khartoum, Republic of the Sudan
  • 28 December 2020

Sudan's trade deficit decreased by 29.5 percent on an annual basis during the first nine months of this year, driven by the decline in the value of imports, as it exceeded its counterpart recorded in the value of exports, as the trade balance deficit (the difference between the value of exports and imports), until the end of last September, reached 3.917 billion dollars, while the trade balance deficit during the corresponding period of 2019 amounted to 5.55 billion dollars, a decline of 29.5 percent.

The decline in the trade balance deficit, driven by a sharp fall in the value of imports by 29 percent to 6.590 billion dollars, compared to 9.290 billion dollars on an annual basis. On the other hand, the value of Sudanese exports decreased by 28.4 percent to 2.673 billion dollars, down from 3.735 billion dollars compared to the corresponding period last year.

This comes while global consumption witnessed a decline in demand, which resulted in a decrease in the value of both exports and imports, as one of the consequences of the global outbreak of the Corona pandemic, and the closure of borders and crossings.

Sudan suffers from renewed crises in bread, flour, fuel and cooking gas, as well as a continuous deterioration in its national currency.

Source (Anadolu Agency, Edited)

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