Trade deficit declining

Trade deficit recorded a further decline as imports and exports move to opposite directions. Imports of goods and services fell in the first ten months of the year while exports rose, according to data released today by the Statistical Service.

According to preliminary estimates of the Statistical Service, imports showed a decline of 2.9% to €4233,7 mn in the period of January-October 2015 from € 4362,3 mn in the corresponding period of 2014.

In October, imports fell by 5% as their value declined to €424,3 mn compared to €446,6 mn in October 2014. In September, there was a decline of 32.8%.

As regards exports, there was an increase of 18.5% in the first ten months of the year as exports’ value reached €1457,9 mn against €1230,1 mn in the corresponding period last year.

In October 2015 the value of exports increased by 2.5% reaching €116,3 mn compared with €113,5 mn in October 2014. In September, a decrease of 0.6% was recorded.

As a result, the trade deficit in January - October 2015 fell to €2775,8 mn against € 3132,2 mn in the corresponding period of 2014.