According to revised balance-of-payments figures from IMF staff, the current-account deficit widened to 7.7% of GDP in 2010, from 7.1% of GDP in 2009, as exports stagnated and imports rose. Exports were flat in US dollar terms at US$825m, with a 5% rise in CFA franc terms being offset by a 5% depreciation of the currency. Cement and clinker remained the largest single export, followed by re-exports, phosphates and cotton. Revised figures for re-exports bring these estimates more into line with those in the Fund's International Financial Statistics. Imports rose by 7% to US$1.29bn in 2010, spurred by faster economic growth and donor-funded capital projects, which pushed up the trade deficit to US$467m (14.8% of GDP). Invisible earnings climbed sharply in 2010, by 44% to US$223m, mainly because of a 14% rise in current transfers to US$327m (reflecting a rebound in remittances following the recession and higher official transfers) and a decline in net income outflows owing to debt restructuring. However, this was insufficient to cover the wider trade gap, hence the rise in the current-account deficit. An increase in the capital and financial account surplus (including foreign direct investment of US$32m, the same as in 2009) plugged some of the shortfall to leave an overall balance-of-payments deficit of US$126m, which was mainly covered by exceptional donor financing.

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