Drop in exports, imports

The value of exports declined by €127.9 million in the first two months of this year when compared to the same period last year and imports were down by €121.2 million in value, according to figures issued by the National Statistics Office.

As a result, the visible trade gap for January and February widened by €6.7 million to reach €210.4 million.

The decline in imports was mainly due to machinery and transport equipment but there were also drops in mineral fuels, lubricants and related materials.

The drop in exports was mostly in machinery and transport equipment.

In February, the value of imports dropped by €76.2 million and exports were down by €61.5 million in value.

The visible trade gap in February shrank by €14.7 million compared to the same month last year, to stand at €87.2 million.