Figures from the Reserve Bank of Malawi (RBM) show that Malawi still registers a negative trade balance as imports are surpassing exports due to dwindling agricultural export commodities.

According to the 2019 Financial and Economic review report for the fourth quarter, the trade balance deficit widened to $446.5 million (about K 330 billion) from a deficit of $399.9 million ( about K285.9 billion) in the previous quarter. Last year, the annual Economic Report said that Malawi’s trade balance would worsen by 16.4%. The projection was justified by stating that all values of traditional export products are anticipated to go down in 2019.

Meanwhile, the Ministry of Industry, Trade and Tourism Principle Secretary Ken Ndala recently said Malawi has to capitalize and advance on available strategies aimed at boosting trade adding that Malawi has to enter into more trade arrangements that seek to open foreign markets for our exports.