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.
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Michael Seychell
Jun 5th 2009, 12:30
As far as I know we are living in one global world, and in the present circumstances it would have been a miracle if our expoprtsa increased and our impoprts remained the same let alone increased.
It seems that some of us have not realised that General Motors the American GIANT collapsed and this apart from other giants in US, Europe anmd Japan.
It is enough to mention the fact that large EU countries amongst them France and Germany have requested a meeting to discuss increasing the Deficit limit of their countries to avoid pressure from the EU regulations.
Michael Seychell
Tal-Pieta
J.Cassar
Jun 5th 2009, 12:03
Not as good as it seems. If one were to anlalyse the sort of imports that fell, it becomes clear that these are industrial goods needed for production and economic activity. It does not augur well for present and future economic growth, and quite honestly this is not the good news that it seems to be.
J. Cassar
P.Cassar
Jun 5th 2009, 11:51
If this shrinkage is due to decreased imports and even worse decreased exports this means that our economy is shrinking, fast and seriously.
Silvio Schembri - Luqa
Jun 5th 2009, 11:37
"Malta's visible trade gap improved by €55.4 million in April "
In my opinion the word improve should imply a better situation. A reduction in the trade gap should be said to be improved if the gap is diminished due to an increase in Exports while keeping Imports the same or even increasing as well. An increase in Imports shows that the country is growing and an increase in exports shows that a country is being productive enough to supply other Countries. Unfortunately the opposite in both circumstances is occurring in Malta which means that Malta's visible trade gap hasn't improved at all but just shrinking.