The trade deficit in December was four times higher than in the same month a year prior, standing at €310.6 million. In December 2020 it was €78.2 million.

Provisional data issued by the National Statistics Office shows imports amounted to €567.7 million, while exports totalled €257.1 million. This represented an increase of €178.1 million in imports and a decline of €54.3 million in exports over the same month the previous year.

The rise in the value of imports was primarily due to machinery and transport equipment (€141.2 million), and chemicals (€30.9 million). On the exports side, the main decrease was registered in mineral fuels, lubricants and related materials (€50.8 million). 

Total trade in goods: January-December 2021 

In 2021, the total trade in goods deficit widened by €1,131.3 million when compared to 2020, reaching €2,959 million. Imports increased by €1,007.3 million, while exports decreased by €124 million, amounting to €6,418.1 million and €3,459.1 million, respectively.

Higher imports were mainly recorded in machinery and transport equipment (€602.4 million), mineral fuels, lubricants and related materials (€155 million), chemicals (€93.4 million), and miscellaneous manufactured articles (€70.3 million).

On the exports side, mineral fuels, lubricants and related materials (€154.9 million), and machinery and transport equipment (€96.9 million) accounted for the main declines, partly offset by an increase in chemicals (€129.8 million).

Goods were imported mainly from the European Union (53.8%) and Asia (17.6%). Similarly, exports were mostly directed to the European Union (35.4%) and Asia (19.9%).

The main increase and decrease in imports were registered from Italy (€273.3 million) and China (€57.5 million), respectively.

With regard to exports, the main increase was directed to the United Kingdom (€60.9 million), whereas France reported the highest decrease (€85.6 million).