Exports down €24.5m in August
€309.1 million drop since January
Exports dropped by €24.5 million in August while imports were down by €2.7 million, according to NSO figures issued today.
The trade gap widened by €21.7 million to €128.3m when compared to August 2008.
The NSO said the decrease in imports was mainly due to industrial supplies. Machinery and transport equipment accounted for the main decline in exports.
During the first eight months this year, the visible trade gap narrowed by €122.9 million, to stand at €837.9 million. This came about because of a decrease of €432.1 million in imports and a decrease of €309.1 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, food, miscellaneous manufactured articles, 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 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 during the first eight months this year
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charles zammit
Oct 9th 2009, 15:57
this is another bleak report that contradicts the gonzi theory that all is alive and kicking. this is the unfortunate situation the maltese economy is i, we might not have been mortally hit by the financial crisis due to the sound maltese banking system but we are now feeling the blows of the economic meltdown. a lame government which only hung to office by a handful of votes dont seem to have the moral fibre to get us out of the doldrums. malta needs a new administration one that taps all the human resources coming from whatever quarter. the fact that for so long half of the maltese had no place in the nationalist administration is now having its toll especially now that there is a circle even within a circle.