The trade deficit of the country expanded by €824 million during the first half of 2023, compared to the same period last year, reaching a total of €3.73 billion. This increase can be attributed to a significant rise of 19.8% in imports.

According to the Statistical Service, the trade deficit for the period of January to May 2023 stood at €3,733.4 million, in contrast to €2,909.0 million during the corresponding period in 2022.

During the period of January to May 2023, the total value of imported goods amounted to €5,356.6 million, indicating a substantial growth compared to the €4,470.8 million recorded in the same period of 2022, representing an increase of 19.8%.

On the other hand, the total value of exported goods for the period of January to May 2023 was €1,623.2 million, slightly higher than the €1,561.8 million recorded during the same period in 2022, demonstrating a modest increase of 3.9%.

In the month of May 2023, the total value of imported goods was €974.5 million, reflecting a decrease of 16.4% compared to the €1,165.7 million registered in May 2022.

Imports from other EU member states amounted to €578.9 million, while imports from non-EU countries reached €395.6 million in May 2023. This indicates a decline from the €684.3 million and €481.4 million respectively recorded in May 2022.

According to the Statistical Service, the imports in May 2023 include the transfer of economic ownership of mobile transport equipment, specifically ships, with a total value of €32.0 million, down from the €202.1 million reported in May 2022.

Regarding exports, the total value of goods exported in May 2023 amounted to €370.9 million, representing a decrease of 14.8% compared to the €435.1 million achieved in May 2022.

Exports to other EU member states in May 2023 reached €99.8 million, while exports to non-EU countries stood at €271.1 million. These figures indicate a decline from the €120.6 million and €314.5 million respectively recorded in May 2022. Furthermore, the exports in May 2023 include the transfer of economic ownership of mobile transport equipment, with a total value of €51.6 million, compared to €110.8 million in May 2022.

Meanwhile, vehicle registrations experienced a significant surge of 24.4% during the first half of 2023 compared to the same period in 2022. Additionally, registrations in June 2023 witnessed a notable increase of 22.4% compared to June of the previous year.

According to the Statistical Service, total registrations of motor vehicles in June 2023 reached 4,094, indicating a remarkable 22.4% growth compared to 3,344 registrations recorded in June 2022. Specifically, registrations of passenger cars showed a substantial 22.3% rise, with 3,166 registrations compared to 2,588 in June 2022.

Moreover, the overall number of registered vehicles during the January to June 2023 period rose by 24.4% to reach 22,021, in contrast to 17,697 registrations in the corresponding period of 2022. This increase can be attributed to a 21.6% surge in new vehicle registrations, totaling 10,529, while used vehicle registrations experienced a significant boost of 27.2% to reach 11,492.

Analyzing the data further, registrations of passenger cars during the January to June 2023 period showcased a remarkable 24.8% increase, reaching 17,600 registrations, compared to 14,101 registrations in the same period of 2022. Out of the total registered passenger cars, 7,569 (43.0%) were new vehicles, while 10,031 (57.0%) were used cars.

Noteworthy increases were also observed in specific vehicle categories. Rental cars exhibited a notable growth of 28.8%, accounting for 3,164 registrations. Additionally, registrations of buses reached 189 during the January to June 2023 period, compared to 47 in the same period of 2022.

Furthermore, registrations of freight vehicles rose to 2,113 during the January to June 2023 period, marking a 10.8% increase compared to 1,907 registrations in the corresponding period of 2022.

Breaking down the statistics, light commercial vehicles witnessed a 7.1% growth with 1,651 registrations, while heavy commercial vehicles experienced a substantial surge of 38.3%, totaling 260 registrations. Registrations of road tractors (prime movers) increased by 52.5% to reach 61, and rental vehicles grew by 2.9% to reach 141.

In terms of motorcycles, registrations of motorcycles with an engine capacity <50cc decreased to 112 during the January to June 2023 period, compared to 150 registrations in the same period of 2022.

On the other hand, registrations of motorcycles with an engine capacity >50cc exhibited a noteworthy 32.8% increase, totaling 1,747 registrations during the January to June 2023 period, compared to 1,316 registrations in the same period of 2022.