The visible trade gap in June narrowed by €22.4 million when compared to the corresponding month last year, according to preliminary figures published by the National Statistics Office.

The NSO said that the visible trade gap in June stood at €70.6 million, down by €22.4 million when compared to the corresponding month in 2009.

There were increases in imports and exports of €26.7 million and €49.1 million respectively.

The increase in imports was mainly due to capital goods, industrial supplies, and fuels and lubricants, while a decrease was registered in consumer goods. Mineral fuels, lubricants and related materials accounted for the main increase in exports during June when compared to the corresponding month last year.

Other increases were also registered in machinery and transport equipment, chemicals, miscellaneous manufactured articles, semi-manufactured goods, food, beverages and tobacco, miscellaneous transactions and commodities, and crude materials.

In the first half of 2010, the visible trade gap narrowed by €242.3 million to €500.2 million.

This came about because of increases in imports and exports of €31.5 million and €273.8 million, respectively, when compared to the corresponding period in 2009.

The increase in imports was mainly due to industrial supplies and fuels and lubricants. During this period the rise in exports was primarily due to machinery and transport equipment.

Other increases were registered in mineral fuels, lubricants and related materials, chemicals, food, semi-manufactured goods, miscellaneous transactions and commodities, crude materials and beverages and tobacco.

During the first six months 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 Netherlands, the United Kingdom and Germany, while increases were recorded from Italy, Spain, France and Belgium.

Exports to the euro area show an increase, mainly to Germany and France, with other increases being recorded for Japan, Singapore, China, Turkey and Switzerland.