16 Jan 2025 | News & Feature

Trade: Loading up before the shift

  • Trade surplus narrowed to USD 2.24 Bn—down from USD 4.37 Bn in November, as imports outpaced exports (11.07% vs 4.78% YoY).
  • Imports increased on all categories, likely driven by a front-loading attempt by the year-end and a temporary recovery in global manufacturing ahead of Trump’s tariffs.
  • Exports slowed for most goods, driven by declining exports to China and easing exports of nickel.
  • Narrowing trade surplus trend (USD 31.04 Bn in 2024) is likely to continue in 2025, leading to wider current account deficits.