The trade deficit grew to €121.9 million in February, up by €26.6 million from the same month last year, according to preliminary figures published by the National Statistics Office.

The NSO said there were decreases in imports and exports of €35.1 million and €61.6 million, respectively.

The decrease in the value of imports was primarily due to machinery and transport equipment, with other declines registered in all other sectors, except for animal and vegetable oils and fats.

Mineral fuels, lubricants and related materials accounted for the main decrease in the value of exports when compared to the corresponding month last year.

In the first two months this year, the trade deficit widened by €12.2 million, to €220.3 million. Both imports and exports registered decreases.

Imports from the European Union reached €434.4 million, or 52.7 per cent. Increases were registered in imports from the United States of America, Norway, Spain, the United Kingdom, Italy, Greece and India.

Imports from Libya, Turkey, Germany, Singapore, France, the Republic of
Korea, China, Japan and the Netherlands declined.

Exports to the euro area decreased by €6.1 million, mainly to France, the Netherlands, Greece, and Spain, while increases were recorded for the United States of America, Libya, Italy, Germany, Turkey, India, the Republic of Korea and Norway.

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