Provisional data for international trade show that the visible trade gap in December 2008 stood at 92.9 million, up by €35.8 million over the comparative month in 2007, the National Statistics Office said.

There was a drop in imports of €37.5 million and a decrease in exports of €73.3 million.

The drop in imports was due to industrial supplies, capital goods and consumer goods.

Food accounted for the main decrease in exports during December 2008 when compared to the corresponding period of the previous year. Other drops were also registered in machinery and transport equipment, miscellaneous manufactured articles and semi-manufactured goods.

In 2008, the visible trade gap widened by €54.3 million, to stand at €1,345.1 million.

This came about because of a drop of €198.3 million in imports and a drop of €252.5 million in exports. The decline in imports was mainly due to machinery and transport equipment.

Drops were also registered in miscellaneous manufactured articles, miscellaneous transactions and commodities, semi-manufactured goods and food.

During this period, the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in food, miscellaneous manufactured articles and mineral fuels, lubricants and related materials.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during 2008.