Preliminary figures show that the visible trade gap shrank by €14.7 million this February when compared to February 2008, the National Statistics Office said.

Provisional data for international trade show that the visible trade gap in February stood at e87.2 million, down by e14.7 million compared to the same month last year. There was a decrease in imports of e76.2 million and a decrease in exports of e61.5 million. The decrease in imports was due to industrial supplies, capital goods and consumer goods.

Machinery and transport equipment, miscellaneous manufactured articles, chemicals and food accounted for the decrease in exports during February when compared to the same month last year.

During the first two months this year, the visible trade gap widened by e6.7 million, to stand at e210.4 million. This came about because of a decrease of e121.2 million in imports and a decrease of e127.9 million in exports. The decline in imports was mainly due to machinery and transport equipment. Decreases were also registered in mineral fuels, lubricants and related materials, food and miscellaneous manufactured articles.

During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles, chemicals and food.