The trade gap widened by €11 million last year as a hefty increase in exports was offset by a heftier increase in imports.

Provisional figures released by the National Statistics Office show that the value of exports increased by €934 million last year when compared to 2010. The value of imports also increased by €944 million.

The increase in imports was primarily caused by fuels and lubricants, with other increases registered in consumer goods, capital goods and industrial supplies, the NSO said.

The increase in exports was due to mineral fuels, lubricants and related materials, machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods and crude materials.

The bulk of trade flows and consequent trade deficit last year continued to be directed towards the European Union. Increases were registered in imports from Italy, Spain, France, Portugal, Germany and Greece while a decrease was recorded from the UK.

Exports to the euro area showed an increase, mainly to Greece, Germany, Spain and Italy. The NSO said that other significant increases were registered for Egypt, the UK, China, Switzerland and India.

The provisional data for December shows that the visible trade gap stood at €72 million, down by €31 million when compared to the same month a year earlier.