The difference in the value of imports and exports has narrowed by €132.7 million to €720.4 million in the year up to July.

Imports totalled €1620.7 million in value and the value of exports was €900.4 million. Overall, the value of imports and exports this year fell by €436.2 million and €303.4 million respectively.

The National Statistics Office said the trade gap in July shrank by €29.9 million to €135.5 million, with imports and exports falling by €58 million and €28.1 million in value.

The drop in imports was mainly attributed to industrial supplies, fuels and lubricants and that of exports to machinery, transport equipment and miscellaneous manufactured articles.

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