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G&T Team
ResearchResearch Reports Weekly Market Watch

Weekly Market Watch

Goods trade accelerated in Dec-22 
In Dec-22, exports growth accelerated, up by 32.5% y/y to a record high US$ 555.8mn, after a 14.1% y/y growth in previous month. Imports growth also accelerated, up by 31.2% y/y and reached a record high US$ 1.4bn in December, after growing by 22.2% y/y in November. As a result, the trade deficit, increased by 30.3% y/y to US$ 822.7mn, after a 27.9% y/y growth in November. Overall, in 2022, trade deficit was up by 34.1% y/y to US$ 7.9bn, as exports increased by 31.8% y/y to US$ 5.6bn, while imports were up by 33.2% y/y to US$ 13.5bn.  The wider goods trade deficit was largely offset by tourism revenues and remittances, improving the current account balance in 2022.