The visible trade gap widened by Lm6.6 million (€15.4 million) in October when compared to October 2006 as a result of a drop in exports, the National Statistics Office has reported.

The trade gap in October stood at Lm50.0 million, up by Lm6.6 million from the same month last year. There was a decrease in exports of Lm6.6 million while imports remained practically unchanged.

Food, beverages and tobacco, machinery and transport equipment and miscellaneous manufactured articles, accounted for the main drop in exports.

In contrast, during the first 10 months of the year, the visible trade gap narrowed by Lm58.3 million to Lm402.9 million as imports declined by Lm37.4 million while exports grew by Lm20.9 million.

Lower import values were registered for capital goods and industrial supplies, while fuel and lubricants and consumer goods registered an increase. The increase in exports was generated primarily by chemicals, mineral fuels and lubricants, miscellaneous manufactured articles and crude materials.

An analysis of the total trade balance by commodity group shows that the improvement in the balance for the first ten months of 2007 was mainly due to machinery and transport equipment, miscellaneous manufactured articles and crude materials and chemicals.

The bulk of Malta's trade flows continued to be directed to the European Union during the first 10 months of 2007.