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Imports up by 16.1%

During the month of August, imported goods were up by 16.1 percent, a total value of $172.5 million from $148.5 million imported for August of 2017. Meanwhile, the total value of domestic exports was up by a negligible 1.1 percent, a total value of $22.9 million, from the $22.7 million recorded for August of 2017. A significant increase in goods destined for the ‘Commercial Free Zones’, coupled with greater purchases across most commodity categories led to the considerable growth in imports for the month.Where the Commercial Free Zone is concerned,  imports increased by 71 percent or $12 million, from just below $17 million in August 2017 to a little over $29 million in August 2018. Meanwhile, revenues from exports of bananas fell from $6.8 million in August of last year to $6.3 million in August 2018. Exports of bagged sugar were almost unchanged, declining minimally from just over $0.5 million to a little over $0.6 million. On the other hand, exports of marine products grewfrom almost $4 million during last August to $4.6 million in August of this year, due to improved sales of lobster tails and shrimp. Citrus products also saw an increase from $4.2 million to $4.8 million, owing mostly to increased exports of orange concentrate.