Exports shrink for 5th month, imports dip 8.8%

Official data showed on Wednesday that exports fell 1.8% to 27.4 billion in December, while imports contracted for the seventh successive month. Imports fell by 8.8% at $38.6 billion in December 2019 which enabled narrowing of the trade deficit to $11.3 billion. Exports have been under pressure due to a string of factors including the impact of the bruising global trade war between the US and China and the slowdown in key markets.

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