Trade gap shrinks

At €108.6 million, Malta's visible trade gap improved by €55.4 million in April when compared to the same month last year, the National Statistics Office said.

The NSO said there was a drop in imports of €97.5 million and a decrease in exports of €42.2 million. The decrease in imports was mainly due to industrial supplies and fuel and lubricants. Machinery and transport equipment, miscellaneous manufactured articles and semi-manufactured goods accounted for the decline in exports.

During the first four months of this year, the visible trade gap shrank by €80.7 million, to stand at €383.6 million. This came about because of a decrease of €263.7 million in imports and a decrease of €183 million in exports.

The decline in imports was mainly due to mineral fuels, lubricants and related materials and machinery and transport equipment. Decreases were also registered in miscellaneous manufactured articles, chemicals and semi-manufactured goods.

During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles, chemicals, semi-manufactured goods and food.

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