The trade deficit increased by 751.1 million euro in the first two months of this year compared to the same period last year, with imports going up by 10.1pct and exports by 4.8pct, according to data released by the National Institute of Statistics (INS) on Tuesday.
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Between January and February 2019, the trade balance deficit rose to 2.413 billion euro, FOB exports totaled 11.403 billion euro and CIF imports of 13.816 billion.
"During 1 January - 28 February 2019, FOB exports amounted to 11403.0 million euro, while CIF imports amounted to 13816.1 million euro. During the same period, exports increased by 4, 8pct and imports by 10.1pct year-on-year. The trade deficit (FOB / CIF) in the above mention interval was of 2413.1 million euro, higher by 751.1 million euro than the one recorded in the dame interval of the previous year," the INS release states.
In February 2019, FOB exports amounted to approximately 5.892 billion euro and CIF imports to 7.044 billion euro, resulting in a deficit of 1.152 billion euro. As compared to February 2018, exports in February 2019 increased by 8pct and imports went up by 11.1pct.
In the first two months of this year, important shares in the structure of exports and imports are held by the following product groups: machinery and transport equipment (48.4pct for export and 36.8pct for imports) and other manufactured products (32pct at export and 30.1pct respectively).
The value of intra-EU28 trade in goods between January and February 2019 was 8.878 billion euro for exports and 10.291 billion euro for imports, accounting for 77.9pct of the overall exports and 74.5pct of the overall imports.
The value of extra-EU28 trade in goods during the same period was 2.525 billion euro for exports and 3.525 billion euro for imports, accounting for 22.1pct of total exports and 25.5pct of total imports.