The difference between the value of imports and exports narrowed by €16.3 to €95.6 million in May compared to the same month last year, as trade continued to be sluggish.

The National Statistics Office said exports fell by €37.8 million in value, mainly because of a lower demand for machinery and transport equipment. The value of imports fell by €54.1 million, attributed to a lower demand for industrial supplies, fuel and lubricants.

Between January and May, the trade gap narrowed by €74.6 to €502.1 million, as the value of imports fell by €320.1 million and exports by €245.5 million in value.

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