The National Statistics Office has reported that preliminary figures show that the visible trade gap narrowed by €55.5 million in August when compared to the corresponding month last year.

Provisional data for international trade show that the visible trade gap in August stood at €126.7 million, down by €55.5 million when compared to the corresponding month in 2010. There were decreases in imports and exports of €64.5 million and €8.8 million respectively. The decrease in imports was mainly due to capital goods, consumer goods and industrial supplies, while an increase was registered in fuels and lubricants.

Machinery and transport equipment accounted for the main decrease in exports when compared to the corresponding month in 2010. Other decreases were recorded in chemicals, miscellaneous manufactured articles, food, miscellaneous transactions and commodities, and beverages and tobacco. Increases were registered in mineral fuels, lubricants and related materials, crude materials, and semi-manufactured goods.

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