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Exports up 25.0 Percent y/y in May 2017

In May 2017, exports increased 25.0% y/y to US$ 215.2mn, imports were up 3.8% y/y to US$ 633.2mn and the trade deficit narrowed 4.6% y/y to US$ 418.0mn. Overall in 5M17 exports were up 28.7% to US$1.0bn, imports increased 10.8% to US$ 2.9bn and the trade deficit widened 3.4% to US$ 1.9bn.

Increased exports of copper (+134.1% y/y), cars (+38.3% y/y), Wine (+60.0% y/y) and spirits (+92.7% y/y) were the major commodities driving export growth in May 2017.

Petroleum (+12.9% y/y), cars (-13.0% y/y), copper (+252.2% y/y), pharmaceuticals (+2.5% y/y) and phones (+28.7% y/y) represented the top 5 imported commodities in May 2017.