€187.4 million trade in goods deficit recorded in November

Provisional data recorded a total trade in goods deficit of €187.4 million during November, compared to a deficit of €310.6 million in the corresponding month of 2022.

Imports amounted to €644.5 million, while exports totalled €457.1 million, representing drops over the same month of the previous year in both imports and exports of €187.5 million and €64.3 million, respectively.

The main decrease in imports was primarily due to Machinery and transport equipment (€208.0 million). On the exports side, the main decreases were registered in Food (€52.5 million), Chemicals (€20.3 million) and Machinery and transport equipment (€9.4 million),  partly offset by an increase in Mineral fuels, lubricants and related materials (€26.3 million).

Total trade in goods

During the first 11 months of the year, the deficit narrowed by €680.1 million when compared to the corresponding period of 2022, reaching €3,703.8 million.

Imports stood at €7,813.9 million whereas exports reached €4,110.1 million, representing decreases of €851.1 million and €171.0 million, respectively.

Lower imports were mainly recorded in Mineral fuels, lubricants and related materials (€466.1 million), Machinery and transport equipment (€433.8 million), and Chemicals (€62.3 million), partly offset by increases in Food (€76.2 million), and Miscellaneous manufactured articles (€44.2 million).

On the exports side, the main decreases were registered in Mineral fuels, lubricants and related materials (€184.9 million), Food (€73.3 million), and Chemicals (€64.8 million). These were partly offset by an increase in Machinery and transport equipment (€150.9 million).

Goods were imported mainly from the European Union (54.6 per cent) and Asia (20.6 per cent).

Similarly, exports were mostly directed to the European Union (37.6 per cent) and Asia (16.3 per cent).

The highest increase in imports was recorded from Germany (€230.5 million), while imports from Greece registered the largest drop (€252.6 million). Exports to Germany registered the highest increase (€311.2 million), while those to France experienced the largest decrease (€176.4 million).

In November, the deficit of trade in goods excluding specific chapters amounted to €132.9 million, compared to a deficit of €32.1 million recorded in the same month of 2022.