Trade gap narrows by €292.6 million in October

The trade gap narrowed by €292 million to €28.4 million in October as a spike in the importation of machinery and transport equipment last year was not repeated this year. 

A total decrease of €283.8 million was recorded for imports in October this year, while exports increased by €8.8 million compared to October last year.

The decrease in imports was primarily due to a drop in machinery and transport equipment (€153.3 million) and mineral fuels, lubricants and related materials (€85.7 million).

Other decreases were recorded for all other commodity groups except for crude materials.

With regard to exports, food accounted for the main increase (€17.7 million), with mineral fuels, lubricants and related materials, semi-manufactured goods, beverages and tobacco, and miscellaneous manufactured articles also registering increases.

January-October 2015

During the first 10 months, the trade deficit narrowed by €90.0 million, to €2,095.5 million when compared to the corresponding period last year. Both imports and exports decreased by €261.6 million and €171.6 million respectively.

Lower imports were mainly due to mineral fuels, lubricants and related materials, which decreased by €765.7...