Samoa recorded a trade deficit of WST$81.5 million in July this year with merchandise imports totalling $92.4 million to exceed exports valued at $10.9 million.

Data on the country's trade was released by the Samoa Bureau of Statistics (S.B.S.) recently with the bureau adding that the trade deficit has increased by 38 per cent when compared to the balance in the corresponding period last year.

The bureau said the total value of merchandise imports rose by 9.8 per cent to $92.4 million and mainly driven by mineral fuels, mineral oils and products (up $21.4 million); ships, boats and floating structures (up $10.5 million); Meat and edible meat offal (up $0.4 million); and dairy products (up $1.6 million).

The Oceania region had the largest share of 50.1 per cent of total merchandise imports, despite a reduction of 5.3 per cent from the previous month according to the bureau.

Imports from Australia, Singapore and China all went up by $8.5 million, $19.3 million and $2.8 million respectively. The bureau said the increase in imports for July 2022 reflected the rise in imports of petroleum, chicken leg (quarters) as well as the bringing in of the Nafanua II vessel.

July 2022 also recorded an increase in merchandise exports by 14 per cent or $1.4 million to $10.9 million from the preceding month, according to the bureau. 

The increases in merchandise exports were mainly driven by fats and oils products (up $2.6 million); fish, crustaceans and molluscs products (up $0.2 million); preparations of vegetables, fruit and nuts (up $0.3 million); and beverages, spirit and vinegar (up $0.2 million).

The data that the SBS used to collate its report were sourced from customs form which is required to be filled in by importers and exporters or customs agents when clearing merchandise inward and outward through the Ministry for Customs and Revenue (Custom Department).