Friday, 6th November 2009 - 11:31CET

Visible trade gap narrows

Drop in imports and exports

The visible trade gap improved by €79.7 million in September when compared to the same month last year, according to preliminary figures released by the National Office of Statistics.

The NSO said that the visible trade gap in September stood at €54.5 million. There was a drop in imports of €119 million and a decrease in exports of €39.3 million.

The decrease in imports was due to fuels and lubricants, industrial supplies and capital goods and others. Machinery and transport equipment accounted for the main decline in exports.

During the first nine months this year, the visible trade gap narrowed by €200 million, to stand at €895.7 million.

This was due to a decrease of €546.3 million in imports and a decrease of €346.3 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.

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Article © Allied Newspapers Ltd., printed on Monday, November 23, 2009. This article is for personal use only, and should not be distributed.

Comments

P.Cassar (2 weeks, 3 days ago)

The report states that there were serious declines in BOTH IMPORTS AND EXPORTS and isn't this therefore A SERIOUSLY SHRINKING ECONOMY meaning less money in circulation, less jobs and less general economic activity.

Lauding the narrowing of the trade gap would make sense had this been caused by higher exports. Further comments are welcome.

J. Cassar (2 weeks, 3 days ago)

Bad news indeed. When importation of capital goods falls, it means that the prospects for future growth are dim. I hope businesses start importing capital goods again because this would be a sure sign of faith in our future.