Trade deficit down 3.97% in 2024

The trade deficit declined 3.97% in 2024, going from €8,470.4m in January–December 2023 down to €8,134.3m in the corresponding period of 2024.

According to provisional data by Cystat, total imports of goods in January–December 2024 amounted to €12,256.1m, compared to €13,179.8m in January–December 2023, recording a decrease of 7%. Total exports of goods in January-December 2024 were €4,121.8m compared to €4,709.4m in the same period of 2023, registering a decrease of 12.5%.

According to provisional data for December 2024, total imports of goods for the month were €1,314.3m as compared to €954.1m in December 2023, recording an increase of 37.8%. Imports from other EU Member States were €662.7m and from third countries €651.6m, compared to €595m and €359.1m respectively in December 2023.

Imports in December 2024 include the transfer of economic ownership of vessels and aircraft, with total value of €372.5m as compared to €4.8m in December 2023.

Total exports of goods in December 2024 were €359m as compared to €392.4m in December 2023, recording a decrease of 8.5%. Exports to other EU Member States were €88m and to third countries €271m, compared to €92.9m and €299.5m respectively in December 2023.

Exports in December 2024 include the transfer of economic ownership of vessels, with total value of €41.4m as compared to €100.1m in December 2023.

Final data for November 2024

The Statistical Service has also published the final data for November 2024. Total imports of goods amounted to €1,139.6m, as compared to €1,098.6m in November 2023, recording an increase of 3.7%.

Exports of domestically produced products, including stores and provisions, in November 2024 were €244.1m as compared to €226.6m in November 2023, recording an increase of 7.7%. Domestic exports of industrial products, excluding stores and provisions, in November 2024 were €236.5m compared to €218.2m in November 2023. Domestic exports of agricultural products, excluding stores and provisions, in November 2024 were €6.5m compared to €6.6m in November 2023.

Exports of foreign products, including stores and provisions, in November 2024 were €134.1m as compared to €519.2m in November 2023, recording a decrease of 74.2%.