Latest figures released by the Bureau of Statistics reveal some positive signs of reduction in various imports and increase in exports.

For the month of January, the Bureau reveals that imports decreased by 35 million compared to the same period last year, while domestic exports increased by 19.7 million and re-exports increased by 15.2 million.

Figures show that imports from Singapore, Australia, New Zealand and Japan also decreased and these include the import of chemicals and allied products, machinery and mechanical and electrical products.

The good news is that exports increased in January. The statistics show that domestic exports of prepared food stuff, spirits, and tobacco increased by 302.4 percent, increasing by $28.7 million due to increased exports of sugar and mineral water.

The most notable is that sugar exports to the UK for January increased by 7245.6% to $25.8 million while exports of mineral water, albacore and long finned tuna to the US raked in $10.9 million, up by 32.8%.

Re-exports including sale of petroleum products to visiting ships, aircraft and our pacific neighbor totaled $35.4 million.