The visible trade gap narrowed by €20.9 million in January when compared to the corresponding month last year, according to figures published by the National Statistics Office.

The NSO said that provisional data for international trade showed that the visible trade gap in January stood at €106.5 million, down by €20.9 million when compared to the corresponding month in 2012.

There were decreases in imports and exports of €70.6 million and €49.7 million, respectively.

During January, imports from the European Union accounted for 45.9 per cent of total imports. Increases were registered in imports from France and Germany, while decreases were recorded from Italy, the Netherlands, the United Kingdom, Spain and Belgium.

Exports to the euro area, mainly to Germany, Italy, Belgium, the Netherlands, Spain, and France, showed a decrease, with other decreases being recorded for Turkey, the Republic of Korea, Libya, and Switzerland.

There were increases in exports to Singapore, Japan, the United States of America, India, the United Kingdom, and China.

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