MaltaMedia.com

The National Statistics Office said that preliminary figures show that the visible trade gap narrowed by €38.8 million in July when compared to the corresponding month last year.

Provisional data for international trade show that the visible trade gap in July stood at €143.8 million, down by €38.8 million when compared to the corresponding month in 2010. There were decreases in imports and exports of €51.7 million and €12.8 million respectively, as shown in Table 1a. The decrease in imports was mainly due to industrial supplies, capital goods and consumer goods, while an increase was registered in fuels and lubricants. Machinery and transport equipment accounted for the main decrease in exports when compared to the corresponding month in 2010.

NSO added that other decreases were recorded in chemicals and miscellaneous manufactured articles. Increases were registered in mineral fuels, lubricants and related materials, food, semi-manufactured goods, and crude materials.

Furthermore in the first seven months this year, the visible trade gap widened by €39.7 million to €762.1 million. This was due to increases in imports and exports of €398.9 million and €359.2 million respectively, when compared to the corresponding period in 2010. The increase in imports was due to capital goods, fuels and lubricants, industrial supplies, and consumer goods. During this period the rise in exports was primarily due to mineral fuels, lubricants and related materials.

Other increases were noted in miscellaneous manufactured articles, machinery and transport equipment, semimanufactured goods, and crude materials. Decreases were recorded in chemicals, food, miscellaneous transactions and commodities, and beverages and tobacco.

NSO added that the bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union. Increases were registered in imports from Italy, France, Spain, Germany, the United Kingdom, the Netherlands and Belgium. Exports to the euro area show a decrease, mainly to France, Italy and Belgium, but there were increases to Germany, Spain and the Netherlands. Other increases were recorded for China, the United Kingdom, Turkey, and Switzerland.