Out of $2.71 billion in July of last year, overall exports increased by 11.3% YoY to $3.01 billion. On the other hand, it decreased 2.2% from the $3.08 billion in exports the month prior.
In July of last year, total imports were registered at $4.99 billion, a 12.2% YoY increase to $5.6 billion. The month before saw a 1.3% decrease in imports.
At $2.59 billion, the goods and services trade deficit increased 13.2% YoY. It shrank 0.3% on a monthly average.
Workers’ remittances rose by 47.6% YoY to $3 billion in July 2023 from $2.03 billion in the same month the previous year. However, on a monthly basis, the remittances decreased by 5.2% MoM from $3.16 billion to $3 billion in July 2023.
The nation’s current account deficit for July 2023 was $741 million, up from $313 million last month.
