The visible trade gap in December 2007 stood at €107.4 million (Lm46.1 million), up by €41.7 million (Lm17.9 million) when compared to the same month in 2006, the NSO said today.

There was an increase in imports of €31.3 million (Lm13.4 million) and a decrease in exports of €10.4 million (Lm4.5 million).

The increase in imports was mainly due to mineral fuels and lubricants, machinery and transport equipment and beverages and tobacco.

Machinery and transport equipment, miscellaneous manufactured articles and mineral fuels and lubricants accounted for the decrease in exports during December 2007 when compared to the same month in 2006.

In the whole of 2007 the visible trade gap narrowed by €31.5 million (Lm13.6 million) to stand at €1,151.0 million (Lm494.1
million) .

This came about because of a decrease of €46.2 million (Lm19.9 million) in imports during this period, and a decrease of €14.7 million (Lm6.3 million) in exports.

Higher import values were registered for fuel and lubricants and consumer goods, while industrial supplies and capital goods registered a drop.

During this period the decrease in exports was generated primarily by food, machinery and trasport equipment,

miscellaneous manufactured articles and beverages and tobacco .

The NSO said that an analysis of the total trade balance by commodity group indicated that the improvement in the balance for 2007 was mainly due to machinery and transport equipment, chemicals and crude materials.

The bulk of Malta’s trade flows and consequent trade deficit continued to be with the EU.

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