Economy

Exports in manufacturing, agriculture sector records massive growth

The National Bureau of Statistics (NBS) has published the report on foreign trade in goods for the first quarter of 2018 both in export and import.

The publication which was analysed in comparison of previous year and quarter in Quarter on Quarter (QoQ) and Year over Year (YoY) shows that total export experienced 20 per cent growth in QoQ and 56 percent growth in YoY.

Further analysis shows that agriculturaml export grew by 64 percent in QoQ while it was 24 per cent growth in YoY.

Export in raw material however dropped by 14 per cent in QoQ while it grew by 48 percent in YoY.

Manufacturing exports recorded massive growth with 684 per cent QoQ while the YoY was 577 percent growth.

Growth in solid minerals export was 13 percent in QoQ while YoY was 59 percent.

The statistics on import shows that total import in QoQ ratcheted up by 19 percent in QoQ while it grew by 8 percent in YoY. Agricultural sector import experienced downward trajectory as it declined by 19 percent in QoQ while the decline in YoY was 6 percent.

Raw material import grew by just 2 percent in QoQ and grew by 10 percent in YoY. Manufacturing imports went down by 2 percent in QoQ but grew by 12 percent in YoY. Lastly, Solid Minerals imports went downhill by 17 percent in QoQ, but was upped by 4 percent in YoY.

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