Imports dropped by €54.1 million in May while exports were down by €37.8 million, the NSO said today.
It said the visible trade gap improved by €16.3 million in May when compared to the corresponding month last year and stood at €95.6 million.
The NSO said the decrease in imports was mainly due to industrial supplies and fuel and lubricants. Machinery and transport equipment accounted for the main decline in exports.
During the first five months this year, there was a decrease of €320.1 million in imports and a decrease
of €245.5 million in exports.
The decline in imports was mainly due to mineral fuels, lubricants and related materials. Decreases were also registered in machinery and transport equipment, miscellaneous manufactured articles, chemicals and semi-manufactured goods.
During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases
were registered in miscellaneous manufactured articles, chemicals, semi-manufactured goods
and mineral fuels, lubricants and related materials.