Trade Deficit Drops 16.5% In Early 2024
Achieved Through Decreased Imports And Exports In January-may 2024, Reports Statistical Service
For the period January - May 2024, the trade balance deficit was €3.121.2 million, reduced by 16.5% compared to the same period in 2023, which amounted to €3.739.6 million, according to preliminary data published by the Statistical Service on Wednesday.
Total imports of goods for the period January - May 2024 were €4.655.7 million compared to €5.435.4 million for the period January - May 2023, marking a decrease of 14.4%. Total exports of goods for the same period were €1.534.5 million compared to €1.695.9 million for the period January - May 2023, marking a decrease of 9.5%.
According to preliminary data published by the Statistical Service, total imports of goods in May 2024 were €1.031.8 million compared to €1.000 million in May 2023, recording an increase of 3.2%. Imports from other EU Member States were €611.4 million and from third countries €420.4 million compared to €594 million and €406 million respectively in May 2023.
Imports in May 2024 include the transfer of economic ownership of ships, totaling €77 million compared to €34.6 million in May 2023.
Total exports of goods in May 2024 were €338.4 million compared to €421.8 million in May 2023, marking a decrease of 19.8%. Exports to other EU Member States were €89.8 million and to third countries €248.6 million, compared to €101.3 million and €320.5 million respectively in May 2023.
Exports in May 2024 include the transfer of economic ownership of ships, totaling €68.6 million compared to €100.8 million in May 2023.
The Statistical Service also published the final data for foreign trade in April. According to these, total imports of goods were €1.099.2 million in April 2024 compared to €915.5 million in April 2023, marking an increase of 20.1%.
Exports of domestically produced products, including supplies to ships and aircraft, for April 2024 were €219.6 million compared to €121.9 million in April 2023, recording an increase of 80.1%.
The value of exports of industrial products for April 2024 amounted to €204.5 million compared to €111.1 million in April 2023, while the value of exports of agricultural products for April 2024 amounted to €14.0 million compared to €10 million in April 2023.
Exports of foreign products, including supplies to ships and aircraft, for April 2024 were €131.1 million compared to €201.4 million in April 2023, marking a decrease of 34.9%.
