Goods exports surged by 41.1% y/y in Apr-25
In Apr-25, goods exports surged by 41.1% y/y to US$ 616.8mn, after a 7.5% y/y growth in previous month. In contrast, goods imports declined by 3.6% y/y to US$ 1.4bn, after growing by 17.3% y/y in previous month. Consequently, the trade deficit narrowed by 22.9% y/y to US$ 782.5n in Apr-25.
Overall, in 4M25, the trade deficit increased by 16.4% y/y to US$ 3.7bn, as exports grew by 14.2% to US$ 2.0bn and imports were up by 15.7% y/y, reaching US$ 5.7bn.
Money transfers increased by 6.1% y/y in Apr-25
Money transfers increased by 6.1% y/y to US$ 295.5mn in Apr-25, after a 3.9% y/y growth in previous month. Among the top countries, money transfers increased from the EU (+14.2% y/y, 46.3% of total), the USA (+16.6% y/y, 18.3% of total), Israel (+11.4% y/y, 7.5% of total), Türkiye (+6.4% y/y, 2.9% of total) and Kyrgyzstan (+40.3% y/y, 2.6% of total) in April. In contrast, transfers reduced from Russia (-18.9% y/y, 13.5% of total) and Kazakhstan (-41.6% y/y, 2.4% of total).
Overall, in 4M25 money transfers declined by 0.8% y/y to US$ 1.1bn.
We anticipate money transfers at US$ 3.4bn in 2025, revised upwards from the previous forecast of US$ 3.2bn.
