A column marks the Equator line in Sao Tome’s Rolas Islet
The trade balance of Sao Tome and Principe for 2014 recorded a deficit of 154.5 million dollars, an increase of 11% over the deficit recorded in 2013, reported the National Statistics Institute (INE).
The information sent by Sao Tome INE indicates that the recorded deficit was the result of imports totaling 164.5 million dollars and exports worth 10 million dollars.
The INE also said that the export coverage rate of imports was 6.2 pct from January to December 2014, compared with 4.6 pct in 2013.
From January to December 2013 imports reached 145.9 million dollars and exports amounted to 6.7 million dollars.
The archipelago of Sao Tome and Principe depends on more than 80 pct of external support to finance the state budget, which this year includes expenses of USD150 million.
Despite the existence of a joint oil exploration zone with Nigeria, as well as another exclusive maritime area, the surveys carried out have not discovered deposits of commercial value. MDT/Macauhub
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