Revised trade deficit €146 mln in May

The deficit was €145.8 million, compared with €178.2 million in March and €163 million in the same month last year, the office said in an e-mailed statement. The May shortfall was revised from a preliminary estimate of €159 million to the narrowest gap this year. Exports totaled €4.95 billion, up from €4.37 billion in April and compared with €4.05 billion in May 2005. Imports rose to €5.09 billion from €4.55 billion the previous month, and €4.21 billion a year ago. The five-month shortfall was €978.5 million, compared with €1.09 billion in the same period of last year. In euro terms, May exports rose 22.3% from a year earlier and January-May exports increased 17.1% year-on-year. Euro-term imports were up 21% year-on-year in May alone and rose 15.7% in January-May from a year earlier. In volume terms, May exports were up 21.9% and May imports rose 18% from a year earlier. Five-month export volume rose 16.9% year-on-year and import volumes increased by 12.3%. Terms of trade declined some 3% in the first five months from a year earlier due to higher energy prices, KSH said. (Econews, Bloomberg)