Imports and exports dropped by €59.1 and €58.7 million, respectively for the month of November 2008 when compared to the same month of 2007, as data by the National Statistics Office for international trade revealed.

The drop in the imports was mainly due to industrial supplies and capital goods.

Machinery and transport equipment, chemicals, food and miscellaneous manufactured articles accounted for the decrease in exports during November 2008 when compared to the same month in 2007.

During the first eleven months last year, the visible trade gap widened by €5.4 million, to stand at

€1,238.7 million. This came about because of a drop of €177.6 million in imports and a drop of €183.0 million in exports.

The decline in imports was mainly due to machinery and transport equipment. Drops were also registered in miscellaneous manufactured articles, miscellaneous transactions and commodities, chemicals, food and semi-manufactured goods.

During this period the drop in exports was primarily due to machinery and transport equipment.

Other decreases were registered in miscellaneous manufactured articles and mineral fuels, lubricants and related materials.