Trade gap widens by Lm22m in four months

The overall visible trade gap for the first four months of 2005 widened by Lm22 million to hit Lm148.7 million.

In contrast, the visible trade gap narrowed by Lm10.6 million to Lm38.9 million this April when compared to the same month last year.

In April, the value of total imports reached Lm104.5 million, a decrease of Lm21.5 million when compared to the same month last year. Meanwhile total exports dropped by Lm10.9 million in value to Lm65.6 million, the National Statistics Office said yesterday.

Total imports for the period January - April 2005 decreased by Lm39.3 million in value, or nine per cent, to Lm399.6 million when compared to the same period last year.

In the first four months of this year the value of total exports went down by Lm61.3 million, or 19.6 per cent, from Lm312.2 million in the same period of 2004.

In the four-month period under review, the European Union remained Malta's main trading partner, with imports reaching Lm288.1 million in value, or 72.1 per cent of total imports. The main trading partners within the EU were Italy, the United Kingdom, France and Germany with values of Lm117.1 million, Lm48.9 million, Lm37.6 million and Lm33.2 million respectively.

Imports from Asia totalled Lm56.2 million in value, or 14.1 per cent of total imports, with Singapore registering Lm18.4 million followed by Japan with Lm9.3 million.

Total exports to the EU for the period January - April amounted to Lm129.8 million in value, representing 51.7 per cent of the total figure of exports. France, with Lm39.3 million, followed by the United Kingdom, with Lm30.4 million, and Germany, with Lm29 million, were the three main partners within the EU.

The value of exports to Asia stood at Lm50.6 million, or 20.2 per cent, while those to North and Central America reached Lm43.2 million, or 17.2 per cent.