Exports and imports each dropped by more than €300 million in November,  when compared to November 2011, the NSO said this morning.

Imports were down by €306.9 million and exports by €317.6 million. The decrease in the value of imports was primarily due to oil -  mineral fuels, lubricants and
related materials - with other declines registered for machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods and crude materials.

Oil re-exports accounted for the main decrease in the value of exports when compared to the corresponding month in 2011. Other drops were registered for miscellaneous manufactured articles, and semi-manufactured goods.

January-November 2012

In the first 11 months last year, the visible trade gap widened by €382.2 million, to €1,822.4 million. The increase in imports of €758.1 million was mainly due to mineral fuels, lubricants and related materials. Increases were also registered for food, beverages and tobacco, miscellaneous manufactured articles, crude materials, and animal and vegetable oils and fats.

The rise in the value of exports of €375.9 million was primarily due to mineral fuels, lubricants and related materials.

Other increases were noted for machinery and transport equipment, chemicals, miscellaneous manufactured articles, beverages and tobacco, food, and miscellaneous transactions and commodities.

A substantial amount of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union. Increases were registered in imports from Italy, Spain, the Netherlands, Germany, Belgium, and the United Kingdom while there was a decrease from France.

Exports to the euro area increased mainly to the Netherlands, Germany, France,
Spain and Belgium. Increases in exports were also recorded for Libya, Turkey, Singapore and the United States.

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