Decrease in international trade deficit registered during April 2020

€139.4 million during April 2020, compared to a deficit of €230.2 million in the corresponding month of 2019

Freeport2

Provisional data for registered international trade recorded a trade deficit of €139.4 million during April, compared to a deficit of €230.2 million in the corresponding month of 2019, according to data published by the National Statistics Office, NSO.

The data shows that both imports and exports registered decreases of €146.0 million and €55.1 million respectively. The decrease in the value of imports was primarily due to machinery and transport equipment, €95.9 million. On the exports side mineral fuels, lubricants and related materials, €30.5 million, and machinery and transport equipment, €17.8 million, accounted to the main decrease.

The period between January and April 2020

The data published by NSO shows that during the first four months of this year, the trade deficit narrowed by €793.8 million when compared to the corresponding period of 2019, reaching €725.4 million. Both imports and exports decreased by €807.3 million and €13.5 million respectively.

Lower imports were mainly in machinery and transport equipment, €707.5 million, chemicals €34.0 million and miscellaneous manufactured articles €29.2 million.

The main decreases in exports were registered in mineral fuels, lubricants and related materials €37.7 million and food €26.8 million, partly outweighed by an increase of €40.0 million in machinery and transport equipment.

Imports from the European Union reached €935.3 million, or 50.9% of total imports.

There was a decrease of €14.5 million in imports from euro area countries when compared to the same period in 2019.

According to NSO the main increases and decreases in imports were registered from Luxembourg, €104.5 million, and the United Kingdom, €677.4 million, respectively.

With respect to exports, the main increase was directed to Germany €15.4 million, whereas Italy €57.5 million registered the highest decrease.