13/03/2023 15:52
A large increase was recorded in the trade deficit in January 2023 according to preliminary data published on Monday by the Statistical Service, since the increase in imports was more than three times the increase in exports.
The trade deficit reached €1,393.3 million in January 2023 compared to €528.7 million in the corresponding month of 2022, recording an increase of 163.5%.
A significant increase of 127.4% was recorded on total imports of goods which in January 2023 were €1,707.8 million compared to €751.2 mln in January 2022. Imports from other EU Member States were €501.5 mln and from third countries €1,206.3 mln compared to €525.8 mln and €225.4 mln respectively in January 2022. Imports in January 2023 include the transfer of economic property of mobile transport equipment (vessels), with total value of €926.1 mln compared to €73.7 mln in January 2022.
Total exports of goods in January 2023 were €314.4 mln as compared to €222.4 mln in January 2022, recording an increase of 41.4%. Exports to other EU Member States were €68.1 mln and to third countries €246.3 mln , compared to €70.7 mln and €151.7 mln respectively in January 2022. Exports in January 2023 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €106.9 mln as compared to €63.7 mn in January 2022.
Final Data for December 2022
The Statistical Service announced the final data for December on Monday, as well. Total imports of goods amounted to €808.5 mln in December 2022 as compared to €723.6 mln in December 2021, recording an increase of 11.7%.
Exports of domestically produced products, including stores and provisions, in December 2022 were €103 mln as compared to €101.2 mln in December 2021, recording an increase of 1.8%. Domestic exports of industrial products in December 2022 were €94.8 mln compared to €92.7 mln in December 2021, whilst domestic exports of agricultural products in December 2022 were €7.3 mln compared to €7.1 mln in December 2021.
Exports of foreign products, including stores and provisions, in December 2022 were €487.1 mln as compared to €250.1 mln in December 2021, recording an increase of 94.8%.