In 2011 the visible trade gap widened by €11.0 million

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In 2011 the visible trade gap widened by €11.0 millionFigures show that from an annual perspective, the visible trade gap in 2011 widened by €11.0 million, to stand at €1,531.5 million. This was due to increases in imports and exports of €944.6 million and €933.6 million respectively, when compared to 2010.

The increase in imports was primarily due to fuels and lubricants, with other increases registered in consumer goods, capital goods and industrial supplies.

During this period, the increase in exports was due to mineral fuels, lubricants and related materials, machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, and crude materials.

Preliminary figures show that the visible trade gap narrowed by €31.0 million in December 2011 when compared to December 2010.

Provisional data for international trade show that the visible trade gap in December 2011 stood at €72.5 million, down by €31.0 million compared to the corresponding month in 2010.

There were increases in imports and exports of €20.3 million and €51.3 million respectively. The increase in imports was mainly due to fuels and lubricants, while decreases were registered in capital goods, industrial supplies and consumer goods. Mineral fuels, lubricants and related materials accounted for the main increase in exports when compared to the corresponding month in 2010.

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

During 2011 the bulk 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, France, Portugal, Germany and Greece, while a decrease was recorded from the United Kingdom. Exports to the euro area show an increase, mainly to Greece, Germany, Spain and Italy, with other significant increases being recorded for Egypt, the United Kingdom, China, Switzerland, and India.

These figures come from the National Statistics Office.

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