MaltaMedia.com

The National Statistics Office has reported that preliminary figures show that the visible trade gap widened by €22.8 million in August when compared to the corresponding month last year.

Provisional data for international trade show that the visible trade gap in August stood at €160.9 million, up by €22.8 million when compared to the corresponding month in 2009. There were increases in imports and exports of €69.2 million and €46.3 million respectively.

The increase in imports was mainly due to capital goods, industrial supplies and fuels and lubricants, while a decrease was registered in consumer goods. Machinery and transport equipment accounted for the main increase in exports during August when compared to the corresponding month last year.

Other increases were also registered in mineral fuels, lubricants and related materials, semi-manufactured goods, food, beverages and tobacco, miscellaneous manufactured articles, miscellaneous transactions and commodities, and crude materials.

In the first eight months this year, the visible trade gap narrowed by €179.3 million to €856.4 million. This came about because of increases in imports and exports of €174.4 million and €353.7 million respectively, when compared to the corresponding period in 2009. The increase in imports was due to industrial supplies and fuels and lubricants.

During this period the rise in exports was primarily due to machinery and transport equipment. Other increases were registered in mineral fuels, lubricants and related materials, food, chemicals, semi-manufactured goods, miscellaneous transactions and commodities, miscellaneous manufactured articles, beverages and tobacco, and crude materials.

During the first eight months the bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union. Drops were registered in imports from the United Kingdom, the Netherlands, France and Spain, while increases were recorded from Italy, Germany and Belgium. Exports to the euro area show an increase, mainly to Germany, France, Italy, Belgium and Spain, with other significant increases being recorded for Japan, the United Kingdom, Singapore, China, Taiwan, India, Switzerland and Liberia.