The visible trade gap widened by €40.3 million in January when compared to the same month last year, the National Statistics Office said.

It said that provisional data for international trade showed that the visible trade gap in January stood at €99.4 million.

There were increases in imports and exports of €58.5 million and €18.1 million, respectively. The increase in imports was mainly due to fuels and lubricants and capital goods, while decreases were registered in industrial supplies and consumer goods.

Mineral fuels, lubricants and related materials accounted for the main increase in exports when compared to the corresponding month last year.

Other increases were registered in machinery and transport equipment and miscellaneous manufactured articles. Decreases were registered in food, chemicals, semi-manufactured goods, miscellaneous transactions and commodities, beverages and tobacco, and crude materials.

Imports from the European Union accounted for 39.3 per cent of total imports and for 24.8 per cent of total exports.

Increases were registered in imports from Italy and the Netherlands, while decreases were recorded from France, Germany, Spain, the United Kingdom and Belgium.

Exports to the euro area showed a decrease, mainly to France and Italy. Other significant decreases were recorded for Japan, Singapore, China, Switzerland and Egypt.