The Bank said today that export receipts have been impacted by lower commodity prices, mainly gold and oil.
“For the first seven months of 2015, merchandise export receipts amounted to $6.3 billion down from $8.1 billion in the same period last year. Merchandise imports also amounted to $7.8 billion, from $8.4 billion in the corresponding period in 2014, leading to a worsening in the trade deficit,” it added.
However, the Bank noted that the current account deficit improved as a result of favourable movements in the Services and Income accounts.
By Emmanuel K. Dogbevi