Both exports and imports declined across the board in August, figures issued today by the National Statistics Office show.
The trade gap narrowed by €55.5 million in August when compared to the corresponding month last year to reach €126.7 million.
Imports and exports declined by €64.5 million and €8.8 million respectively. The decrease in imports was mainly due to capital goods, consumer goods and industrial supplies, while an increase was registered in fuels and lubricants.
Machinery and transport equipment accounted for the main decrease in exports when compared to the corresponding month in 2010. Other decreases were recorded in chemicals, miscellaneous manufactured articles, food, miscellaneous transactions and commodities, and beverages and tobacco. Increases were
registered in mineral fuels, lubricants and related materials, crude materials, and semi-manufactured goods.
In the first eight months this year, the value of imports rose by €353.8 million due to fuels and lubricants, capital goods, industrial supplies, and consumer goods. A rise in exports of €352.1 million was primarily due to mineral fuels, lubricants and related materials.