Samoan exports increased by 58 per cent or $2.9 million to $7.9 million for the month of November 2021 compared to October of the same year.
The increase was due to Fats and oils (up $2.0 million), Mineral fuels, mineral oils and products (up $1.1 million) Fish, crustaceans and molluscs (up $0.5 million) according to the Overseas Merchandise Trade Report released by the Bureau of Statistics this week.
The report said America region had the largest increase of $2.0 million in the reviewed month when compared to the previous month and the corresponding month last year.
“Exports to USA (up $2.0 million) and American Samoa (up $0.7 million) recorded the largest increases in November 2021 as a result of higher exports of coconut oil and fish to name a few.”
However, trade deficit for that period was $85.2 million.
The report stated that “In November 2021, the total value of merchandise imports of $93.1 million exceeded exports of $7.9 million resulting in a trade deficit of $85.2 million.”
The total value of merchandise imports rose 21.4 percent (or $16.4 million) to $93.1 million in November 2021.
According to the Bureau of Statistics, the increase was mainly driven by imports of Mineral fuels, mineral oils and product (up $21.4 million) Vehicles, parts and accessories (up $2.1 million) Milling industry products (up $0.97 million) and Cereal preparations (up $1.0 million)
The Asia region became the leading source market for imports accounting for 48.6 percent of total imports value and also recorded the largest increase of $20.6 million from the previous month.
Imports from Singapore (up $22.0 million), USA (up $1.9 million) and Japan (up $1.1 million) recorded the largest increases in the reviewed month, reflecting higher imports of petroleum, motor vehicles, chicken leg quarter, sugar, rice and flour to mention a few.