ERHC Energy Inc (ERHE)

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Sao Tome and Principe: Archipelago posts trade deficit of US$29.7 million in first quarter [ 2008-07-03 ]

(These People Need Some Oil Money R.M.)

Sao Tome, Sao Tome and Principe, 3 July – The trade deficit in Sao Tome and Principe reached US$29.7 million in the first quarter of 2008, the archipelago’s National Statistics Institute (INE) said Tuesday in Sao Tome.

According to INE this deficit was due to estimated imports of US$30.3 million, or 94.4 percent more than in the same period of 2007, and exports to the value of US$559,000, or a rise of 6 percent.

In terms of quantity exports saw a rise of 62 percent according to INE, which cited figures provided by the Sao Tome and Principe foreign trade ministry.

The deficit posted in the first half was an increase of 97.4 percent against the same period of 2007. (macauhub)