/

Trade deficit narrows in Jan-Feb

2262 views
1 min read

The trade deficit for the first two months of the year fell to €1,144.4 mln, compared to €1,929.6 mln in January-February last year, on a significant 32% drop in imports and a minor 4% drop in exports, according to the statistical service.

The foreign trade statistics are based on final data for January and provisional for February.

Cystat said that total imports of goods in February were €841.1 mln compared to €770.5 mln in February 2023, an increase of 9.2%. Imports from other EU states were €543.8 mln, and €297.3 mln from third countries, compared to €536.2 mln and €234.2 mln, respectively in February 2023.

Imports in February include the transfer of economic ownership of vessels, with total value of €1.9 mln as compared to €56.8 mln in February 2023.

Total exports in February were lower at €243.1 mln, compared to €260.8 mln in February 2023, a decrease of 6.8%.

Exports to other EU states were €116.2 mln and to third countries €126.9 mln, compared to €65.1 mln and €195.7 mln, respectively in February last year. Exports in February include the transfer of economic ownership of vessels, with total value of €21.7 mln as compared to €87.6 mln in February 2023.

Total imports of goods in January-February amounted to €1,698.4 mln, compared to €2,505.6 mln in the first two months of 2023, a decrease of 32.2%. Total exports of goods in January-February were €554.1 mln compared to €576.0 mln in January-February 2023, a decrease of 3.8%.

The trade deficit was €1,144.4 mln in January-February compared to €1,929.6 mln in the same period of 2023.

January imports down 50%

Cystat said that final data for January showed that total imports amounted to €857.3 mln compared to €1,735.1 mln in January 2023, a decrease of 50.6%. Provisional data for January showed imports of €848.1 mln.

Domestic exports, including stores and provisions, were €143.2 mln compared to €140.7 mln in January 2023, an increase of 1.8%. Domestic exports of industrial products in January were €133.9 mln compared to €132,7 mln in January 2023, whilst domestic exports of agricultural products in January were €8.2 mln compared to €7.3 mln in the same month last year.

January exports of foreign products, including stores and provisions, were €167.8 mln compared to €174.5 mln in January 2023, a decrease of 3,8%.