MaltaMedia.com

The National Statistics Office (NSO) has published preliminary figures showing that the visible trade gap widened by €10.7 million in November when compared to the corresponding month in 2011.

NSO noted decreases in imports and exports of €306.9 million and €317.6 million respectively. The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials, with other declines registered for machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods and crude materials.

Mineral fuels, lubricants and related materials accounted for the main decrease in the value of exports when compared to the corresponding month in 2011. Other drops were registered for miscellaneous manufactured articles, and semi-manufactured goods.

In the first eleven months last year, the visible trade gap widened by €382.2 million, to €1,822.4 million. The increase in imports of €758.1 million was mainly due to mineral fuels, lubricants and related materials. Increases were also registered for food, beverages and tobacco, miscellaneous manufactured articles, crude materials, and animal and vegetable oils and fats.

The rise in the value of exports of €375.9 million was primarily due to mineral fuels, lubricants and related materials.

Other increases were noted for machinery and transport equipment, chemicals, miscellaneous manufactured articles, beverages and tobacco, food, and miscellaneous transactions and commodities.

A substantial amount of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union. Increases were registered in imports from Italy, Spain, the Netherlands, Germany, Belgium, and the United Kingdom while there was a decrease from France. Exports to the euro area increased mainly to the Netherlands, Germany, France, Spain and Belgium. Increases in exports were also recorded for Libya, Turkey, Singapore and the United States of America.