Trade deficit widens as exports take a tumble

The trade deficit almost doubled in January to EUR 224 mln from EUR 128 mln the previous month, due mainly to a great fall in exports and a smaller drop in imports.

According to data published by the statistical service Cystat in its January report “Intra-Extra EU Trade Statistics (Summarised Data)”, total imports/arrivals (covering total imports from third countries and arrivals from other EU member states) in January amounted to EUR 335.4 mln as compared to EUR 388.6 mln in January 2015.

Total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January were EUR 111.2 mln compared to EUR 260.3 mln in January 2015.

Thus, the trade deficit was EUR 224.2 mln in January compared to EUR 128.3 mln in the corresponding month of