Date Posted: April 29, 2008.
Anguilla, a consumption based economy, relies
disproportionately heavily on imports and the data released
for January and February 2008 show that the imbalance,
relative to exports, continues to increase. Not
surprisingly therefore, Anguilla's trade balance for January
and February 2008, showed deficit increases of over 11%
compared to the same months last year. The deficit in
January 2008 was EC$62.2 million and February 2008 it was
EC$45.1 million.
Exports which include re-exports and domestic exports for
the month of January were EC$2.4 million, a 0.8% decrease
over its January 2007 value and for the month of
February were EC$1.8 million, a 7.2% decrease over its
February 2007 value.Imports for January (EC$64.5
million,) and February (EC$46.9 million,) 2008 showed 11.0%
and 10.6% increases respectively over the corresponding
months in 2007. Imports were categorized according to a
Standard Industry Trade Classification (S.I.T.C.) as:
- Consumption Goods such as food and live animals,
beverages and tobacco, Animal and Vegetable oils/waxes.
- Manufactured Goods by Material and Other
Manufactured Articles.
- Primary Goods such as Crude Materials, Mineral
Fuels, Lubricants, Chemicals and Related Product.
- Capital Goods comprising solely of Machinery and
Transportation Equipment.
The increases observed in imports, were fuelled by
Consumption Goods which accounted for 54.9% and 57.1%
of the total imports in the two months. Within this category
the largest contributor was the Manufactured Goods by
Material component primarily due to imports of items in
demand for use in the Construction Industry. Imports in this
subcategory valued EC$12.8 million in February and EC$16.1
million in January.
CHARTS & DATA
International Merchandise Trade Statistics (EC$) February
2005 – 2008
| |
Feb
2005 |
Feb
2006 |
Feb
2007 |
Feb
2008 |
%
Change 08/07 |
|
IMPORTS |
25,153,246 |
33,164,248 |
42,411,410 |
46,903,055 |
10.6 |
|
EXPORTS |
1,169,932 |
2,439,529 |
1,938,805 |
1,798,791 |
(7.2) |
|
BALANCE (E-I) |
(23,983,314) |
(30,724,719) |
(40,472,605) |
(45,104,264) |
11.4 |
All Data for this report was provided by the
Government of Anguilla Statistics Department |
