Central Bank of Sudan: Trade deficit down by 25%
The Central Bank of Sudan (CBoS) has announced the annual deficit in Sudan’s Balance of Trade (BOT) (the difference between exports and imports) has been reduced by 25 per cent to $1.6 billion.
Sudan is the world's largest producer of gum arabic, which is used internationally by the food industry (File photo: Andrew Bergman / RD)
The Central Bank of Sudan (CBoS) has announced the annual deficit in Sudan’s Balance of Trade (BOT) (the difference between exports and imports) has been reduced by 25 per cent to $1.6 billion.
Sudan’s BOT deficit was $2.50 billion in the corresponding period of last year. In a statement, Monday, the CBoS said that that the value of Sudanese exports rose 25.1 per cent on an annual basis to $2.53 billion, While imports rose 3.9 per cent to $4.16 billion during the period.
Over the past year, Sudan’s international debt arrears has been cleared, and the World Bank and IMF cut the country’s debt by $50 billion. In July the Paris Club creditors group agreed to cancel $14.1 billion in Sudanese debt, and to reschedule the terms of servicing a further $9.5 billion owed to the group.
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