The food trade balance recorded a deficit of 859.4 million dinars in 2020, against a deficit of 1,425.7 MD during 2019, posting a coverage rate of 84.9% in 2020 from 74.9% in 2019, according to data published by ONAGRI Wednesday.
In value, food exports went up 14.1%, while imports fell by 0.6%.
The decrease in the deficit is the result of the increased pace of olive oil exports in value (+65.8%), despite a decline in exports of citrus fruits (-42.6%), seafood products (-13.6%) and dates (-6.1%) on the one hand and a slight increase in imports on the other hand (0.6%).
The country’s overall trade balance deficit in 2020 dropped compared with the previous year, going down 34.4% in 2020 (-12,757.8 MD) compared to 2019 (-19,436.2 MD).
Total imports dropped from 63,291.6 MD in 2019 to 51,463.7 MD in 2020, a decrease of 18.7%. Exports fell by 11.7% from 43,855.4 MD to 38705.9 MD.
Energy and raw materials and semi-finished products together accounted for 45% of the country’s total imports.
Food imports accounted for 11.1% of the overall imports.