Samoa’s trade deficit reached $77.27 million last month, new figures released by the Samoa Bureau of Statistics show. 

A trade deficit or surplus measures the difference between the value of a country’s exported goods and services compared to those imported.

In December, Samoa’s imports totaled $84.80 million which exceeded exports worth $7.52 million. 

The Bureau’s report called, “Overseas Merchandise Trade,” found the total value of merchandise exports rose 28.5 per cent or $1.67 million to $7.52 million in the month in question. 

The overall growth in exports was driven by increases in fish, crustaceans and molluscs (up $0.19 million); fats and oils (up $1.74 million); vegetables (up $0.011 million); mineral fuels, mineral oils, and products (up $0.13 million); tobacco (up $0.10 million).

Exports increased most significantly to America, Oceania, and Europe, which grew by $1.57 million, $0.24 million and $0.23 million respectively.

Growing demand for fresh fish, virgin coconut oil, taro, beer, and nonu juice were among the products making their way into the markets, 

American Samoa remained the top destination for exports,, with a total share of one-third of merchandise exports value. 

By contrast, the total value of merchandise imports increased 33.6 per cent or $21.3 million.

Import growth was composed mainly on mineral fuels, mineral oils and products (up $10.50 million); mechanical machinery and equipment (up $5.78 million); meat and edible meat offal (up $1.28 million); electrical machinery and equipment (up $0.62 million); and wood and articles of wood (up $0.78 million).

Imports from Asia increased the most (up by $18.39 million) to reach $37.80 million, with Singapore the main driver of the expansion (imports from the country were up by $13.4 million) driven mainly by fuel imports.

Samoa has recorded a continuous trade deficit over the past five years, the bureau’s report found. 

Attempts to seek comment from the Samoa Association of Manufacturers and Exporters on Tuesday were not successful.