Overseas Merchandise Trade: July 2009

For the month of July 2009 compared with July 2008 unless otherwise stated:

• Merchandise imports were down $886 million (20.9 percent) to $3.3 billion, the second largest monthly fall, in percentage terms, since February 1993.
• The fall in imports was widespread with petroleum and products; and vehicles, parts, and accessories being the most significant contributors.
• Merchandise exports were valued at $3.2 billion, down $252 million (7.3 percent).
• The fall in export values was led by a price driven decrease in crude oil exports.
• The trade balance was a deficit of $163 million, or 5.1 percent of exports, a much lower proportion of exports than in recent July months.