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ECONOMY

Trade Deficit Rises In June And First Seven Months Of 2021

Trade Deficit Rises In June And First Seven Months Of 2021

The trade deficit rose by €82.4 mn in June, to €615.4 mn from €533 mn in the same month of 2020, figures released Thursday by the Statistical Service showed. Preliminary figures revealed an increase in trade deficit of €615.5 mn between January and July.

In June 2021 total imports of goods (from EU Member States and from third countries) amounted to €761.2 mn compared with €668.9 mn in June 2020, recording an increase of 13.8%.

Exports of domestically produced products, including stores and provisions, in June 2021 rose to €145.8 mn from €135.9 mn in June 2020, recording an increase of 7.3%.

Domestic exports of industrial products in June 2021 increased to €138.3 mn from €126.1 mn in June 2020, whilst domestic exports of agricultural products in June 2021 fell to €6.1 mn from €8.1 mn in the same month of 2020.

Exports of foreign products, including stores and provisions, in June 2021 increased to €148.9 mn compared with €140.0 mn in June 2020, recording an increase of 6.4%.

Trade deficit up by €615.5 mn in the first seven months, preliminary figures show

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The trade deficit increased by €615.5 mn between January and July 2021, reaching €3,154.9 mn from €2,539.4 mn in the corresponding period of 2020, based on preliminary figures released by Cystat.

Total imports of goods (from EU Member States and from third countries) in January – July 2021 amounted to €4,786.0 mn compared with €4,294.5 mn in January – July 2020, recording an increase of 11.4%. Total exports of goods (to EU Member States and to third countries) in January – July 2021 were €1,631.0 mn compared with €1,755.1 mn in January – July 2020, registering a decrease of 7.1%.

In July total imports of goods were €769.0 mn compared with €669.1 mn in July 2020, recording an increase of 14.9%. Imports from other EU Member States in July 2021 stood at €549.8 mn and from third countries €219.2 mn, compared with €432.4 mn and €236.6 mn respectively in July 2020.

Imports in July 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €71.9 mn down from €89.5 mn in July 2020.

Total exports of goods in July 2021 increased to €313.5 mn compared with €213.4 mn in July 2020, recording an increase of 46.9%.

Exports to other EU Member States in July 2021 stood at €92.9 mn and to third countries €220.6 mn, compared with €65.1 mn and €148.4 mn respectively, in July 2020. Exports in July 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €83.2 mn up from €33.3 mn in July 2020.

Source: CNA

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