East Timor posts trade deficit of USD893 million

East Timor’s prime minister Rui Araújo talks with a taxi driver in Dili

East Timor’s balance of trade in 2014 recorded a deficit of USD893 million, an increase of 13.79 percent year on year, said the Statistics Directorate of the Ministry of Finance on Tuesday in Dili. The quarterly statistical statement said that in 2014 Timor-Leste exported goods worth US$91.96 million, most of which were “re-exports”, an increase of 13.72 percent compared to 2013. Imports amounted to US$982.23 million, which was 14.64 percent more than in 2013, when the country imported products worth US$838.47 million. Fuels and vehicles accounted for the largest shares of Timor’s imports, with the main countries of origin being Indonesia, Singapore, Malaysia, Australia and Portugal.