25 Apr 2013

Solomons Central Bank says March saw a decline in export income

4:33 am on 25 April 2013

The Solomon Islands Central Bank says falls in three key products saw a decline in export income last month.

The Solomon Islands Broadcasting Corporation reports that log exports in the first three months of 2013 have dropped by 16 per cent compared to the same period last year.

The Central Bank says the number of log shipments for the month was almost half that of the previous month.

It says the decline is largely due to low international log prices - the March price was the lowest recorded in the past two years.

The Bank also says the price of gold weakened while exports in March were just above 3,000 ounces compared to almost 5,000 ounces in February.

The fish catch in March also showed a decline by seven percent compared to February.