Africa-Press – Eswatini. The value of imported vehicles increased from E139.3 million in July to E200.9 million in August.
According to the Central Bank of Eswatini (CBE) recent economic developments reports for July and August, the economy remains resilient as the value of vehicles surged, recording a year-on-year growth of 36.1 per cent.
The report indicates that goods and services brought into the country from abroad sale amounted to E3.242 billion in August.
The country’s imports rose on a month-on-month basis by 11. 4 per cent and 15.9 per cent year-on-year basis.
Report
The report states that imports data indicates that energy products’ imports amounted to E503.7 million in the review month.
The report explains that this reflected an increase of 9.4 per cent on a month-on-month basis and decreased by 6.3 per cent on a yearly basis.
“Whereas, imports of animal and vegetable products, which totalled E299.2 million, increased by 21.3 per cent month-on-month and rose by 44.3 per cent year-on-year,” reads the report.
It further highlights that imports of textile and textile apparel amounted to E245.2 million, which was a decline of 10.4 per cent compared to the preceding month.
The import of textile and textile apparel fell by 17.5 per cent year-on-year.
“Machinery and electrical equipment’ imports amounted to E267.5 million, decreasing by 1.8 per cent on a month-on-month basis and increased by 9.0 per cent on a yearly basis,” reads the report.
It highlights that exports amounted to E3.627 billion in the review month.
The report highlights that exports increased by 13.3 per cent month-on-month and grew by 18.4 per cent year-on-year.
Adjusted
“The seasonally adjusted trade balance was a surplus of E128.9 million, with seasonally adjusted exports and imports amounting to E3.179 billion and E3.050 billion, respectively,” reads the report. It states that the country recorded a merchandise trade surplus of E384.7 million for the month of August.
The report highlights that the surplus was 32.8 per cent higher when compared to the preceding month and 45.5 per cent higher on a year-on-year basis.
“The country recorded a cumulative trade surplus of E737.3 million for the first eight months (Jan-Aug) of 2023, compared to a cumulative trade deficit of E551.4 million for the same period in 2022,” reads the report.
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