
Reports from the Reserve Bank of Malawi(RBM ) and the National Statistical Office (NSO) show that the value of goods exported from Malawi between January and June this year has increased by 25%.
The growth has pushed the country’s export earnings from $257.8 million to $323.4 million, equivalent to K451.4 billion and K566.2 billion, respectively.
During the same period, the value of goods imported into the country rose by 21%, indicating that spending on imports increased from $1.4 billion to $1.7 billion, equivalent to K2.4 trillion and K2.9 trillion in local currency.
Malawi’s economy largely depends on exports such as tobacco and tea, among others, even though these crops continue to face challenges such as falling prices and the effects of climate change.
Meanwhile, fuel, fertilizer, motor vehicles, and mobile phones are among the major goods that Malawi imports, and they account for a significant portion of the country’s foreign expenditure.
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