Expectations of Sudan’s trade deficit rising to eight billion dollars

Experts expect Sudan’s trade deficit to rise to eight billion dollars, following the halt in exports and the country’s heavy reliance on importing most of its goods and essential needs from abroad after the destruction of its industrial, agricultural, and service base due to the war.

In May this year, former Minister of Trade and Supply, Al-Fatih Abdullah Youssef, revealed that the trade deficit in the first quarter of this year reached 4.8 billion dollars, saying that the trade deficit had risen to seven billion dollars in 2023.

Sudan recorded its highest deficit between 2012 and 2021, with a deficit of 6.34 billion dollars in 2014, and 4.866 billion dollars in 2021. The bank reported that the country’s total imports amounted to 11.094 billion dollars, while its total exports reached 4.357 billion dollars.

The report indicated that Sudan exported 34.476 tons of gold, worth 2.021 billion dollars, with the UAE importing 1.914 billion dollars of it, while Egypt imported the remainder.

The Ministry of Trade explained that exports in the first quarter of 2024 rose to 3.8 billion dollars, while imports reached 8.6 billion dollars, bringing the trade deficit to 4.7 billion dollars.

The ministry attributed the increase in the trade deficit to the destruction of 85% of factories due to the war, which forced the Ministry of Trade and Supply to import goods to fill the gap, especially sugar, tea, milk, and flour.