Trade gap shrinks
Decline in imports and exports
Provisional data for international trade show that the visible trade gap in June stood at €80.7 million, down by €29.9 million compared to the corresponding month last year.
The National Statistics Office said there was a drop in imports of €82.1 million and a decrease in exports of €52.2 million.
The decrease in imports was mainly due to industrial supplies and capital goods. Machinery and transport equipment accounted for the main decline in exports.
During the first six months this year, the visible trade gap shrank by €88.5 million, to stand at €600.4 million. This resulted from a decrease of €384.7 million in imports and a decrease of €296.2 million in exports.
The decline in imports was mainly due to mineral fuels, lubricants and related materials. Decreases were also registered in machinery and transport equipment, miscellaneous manufactured articles, chemicals and semi-manufactured goods.
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 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.
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P.Cassar
Aug 7th 2009, 12:51
ONLY IN MALTA
Where are the learned professors and economic experts of our country???
What is the real meaning of the reported shrinking of the trade gap BUT through less exports and iimports?
Is this a shrinking economy especially if it is now becoming the norm?
Are our professors and economists good only to give theoretical lectures at the University but are completely absent from national debate.
Or do they come in only when they want to appear nice to the authorities?
I pray for THEIR views.
Galea. L
Aug 7th 2009, 12:25
Joseph Brincat
Good sign? During the first six months we exported €296.2 million less than we usually do and we imported €384.7 million less than usual. That is the reason why the trade gap decreased. Does this mean we are better off? The trade gap, or the difference between what we import and what we export stood at €600.4 million. This means that we imported this amount more than we exported. It is like you are spending more than you are earning. Do you think this is good? As we say in Maltese "Tiehu bla ma trodd is-swar thott". You judge
Peter Murray
Aug 7th 2009, 12:06
This announcement ,I would venture to suggest ,rather endorses my claims as submitted in a letter I had published in today's Times.Is the euro our salvation or ultimate downfall?
Joseph Brincat
Aug 7th 2009, 11:39
Is this a good sign? Where are the self proclaimed economic experts, come on give us your much sought advice.
By the way, I am no expert. Just want to know how Malta is doing within eurozone and do hope that this data is in our favour.