Visible trade gap widens

The visible trade gap in December stood at €92.9 million, up by €35.8 million over the comparative month in 2007, the National Statistics Office said.

It said there was a decrease in imports of €37.5 million and a decrease in exports of €73.3 million. The decrease in imports was due to industrial supplies, capital goods and consumer goods. Food accounted for the main decrease in exports.

Other decreases 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 decrease of €198.3 million in imports and a decrease of €252.5 million in exports. The decline in imports was mainly due to machinery and transport equipment. Decreases 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.