The visible trade balance showed a deficit of Rs 16,596 million in March 2022, which is 52.8% higher than the previous month and 63.3% higher than the corresponding month of 2021. In March 2022, total imports increased by 47.5% compared to February 2022 and 58.2% compared to March 2021.
The latest statistics confirm the upward trend in the trade balance deficit from month to month. This is due to the value of imports, which is higher than that of exports. In September, the country disbursed invoices amounting to Rs 25,408 million for all its imports but only received Rs 8,812 million for its exports. As a result, a deficit of Rs 16,596 million was recorded for this period, which represents an increase of 52.8% compared to the previous month, when the hole in the trade balance was growing.
The previous two years were marked by the health and economic crisis but our borders are open but the situation is not very encouraging. A quick reading of the table classifying the products imported by the country, four items constitute the bulk of these imports.
As for exports, we note, among others, ready-to-wear and textile products as well as food products and live animals. As in recent years, South Africa (16.5%), Madagascar (8.9%), France (8.8%), the United States (8.3%), the United Kingdom (8.2%) and Kenya (5.7%) were the main destinations of our exports, while our imports came mainly from China (16.1%), South Africa (16.1%), Oman (7.1%), India (6.5%), the United Arab Emirates (6.3%) and France (4.5%).
