During 2020, the trade deficit narrowed by €1,462.3 million when compared to 2019, reaching €2,159.8 million, the NSO said this morning.
Both imports and exports decreased in the year of the pandemic by €2,138.4 million and €676.1 million respectively.
Lower imports were mainly recorded in machinery and transport equipment (€1,258.8 million) and mineral fuels, lubricants and related materials (€656.5 million). On the exports side, mineral fuels, lubricants and related materials (€457.2 million) and machinery and transport equipment (€108.5 million) accounted for the main decreases.
Imports from the European Union reached €2,815.4 million, or 53.3 per cent of total imports. There was a decrease of €526.7 million in imports from euro area countries when compared to the same period in 2019. The main increase and decrease in imports were registered from Algeria (€103.4 million) and the United Kingdom (€966.6 million) respectively.
With respect to exports, the main increase was directed to China (€4.6 million), whereas Italy registered the highest decrease (€119.6 million).
via NSO
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