Exports in the first nine months of the year registered a decrease in value of €406 million, €344 million of which was mineral fuels, lubricants and related materials.

This was matched by a corresponding €383.4 million drop in imports of this category.

However, the machinery and transport equipment export category, which includes semi-conductors, saw a €94.5 million drop, bringing exports in this category for the period down to €888.4 million, roughly the levels they were in 2011.

During the nine-month period under review, the trade deficit narrowed by €64.2 million, to €1,395.8 million.