External trade posted a decrease of deficit in volume by 334 ktoe during the first 4 months of 2016, which corresponds to a reduction of the volume of deficit by 19% compared to the same period of 2015. Indeed, imports decreased by 13% (including the fee considered import with zero value) while exports remained stable.
In value, imports of energy products fell 44%. The decline in volume of imported oil products is due to the fall of oil imports, because it was not too used to generate electricity at the end of April 2016, and the decline in demand for road fuels, though the STIR refinery had stopped for maintenance from 12/3/2016 to 21/04/2016, i.e. 42 days off at the end of February 2016 against 15 days in late April 2015.
For exports, they were down 31% in value though exports in quantity saw no change due to the decline in Brent. Indeed, the quantity of exported crude oil has increased despite the decline in production, and this because of the 45% decrease in the amount of local crude used at STIR between late April 2015 and late April 2016.
