Visible trade gap narrows

The visible trade gap narrowed by €15 million in November when compared to the same month in 2009, according to preliminary figures published by the National Statistics Office.

The NSO said that provisional data for international trade showed that the visible trade gap in November stood at €82.8 million.

There were increases in imports and exports of €46.6 million and €61.7 million, respectively.

The increase in imports was mainly due to fuels, lubricants and industrial supplies, while decreases were registered in consumer and capital goods.

Food accounted for the main increase in exports. Other increases were registered in mineral fuels, lubricants and related materials, machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, chemicals, miscellaneous transactions and commodities, and crude materials.

A decrease was registered in beverages and tobacco.

In the first 11 months of last year, the visible trade gap narrowed by €55.3 million to stand at €1,255.7 million.

This was due to an increase in imports and exports of €433.5 million and €488.9 million, respectively, when compared to the corresponding period in 2009.

The increase in imports was due to industrial supplies, fuels and lubricants, capital goods and consumer goods.

During this period the rise in exports was primarily due to machinery and transport equipment. Other increases were noted in mineral fuels, lubricants and related materials, food, chemicals, semi-manufactured goods, miscellaneous transactions and commodities, miscellaneous manufactured articles, beverages and tobacco, and crude materials.

The bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union.

Drops were registered in imports from the United Kingdom, the Netherlands, France, Greece and Spain, while increases were recorded from Italy and Germany.

Exports to the euro area show an increase, mainly to Germany, France, Italy and Greece, with other significant increases being recorded for Japan, the United States of America, the United Kingdom, China and Singapore.