Visible trade gap shrinks

The visible trade gap in July stood at €132.5 million, down by €29.9 million in the same month last year.

The National Statistics Office said there was a drop in imports of €58 million and a decrease in exports of €28.1 million.

The decrease in imports was mainly due to industrial supplies and fuels and lubricants. Machinery and transport equipment and miscellaneous manufactured articles accounted for the main decline in exports.

During the first seven months this year, the visible trade gap shrank by €132.7 million, to stand at €720.4 million.

This came about because of a decrease of €436.2 million in imports and a decrease of €303.4 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, 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 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.