GozoNews.Com

Provisional data for international trade show that the visible trade gap in November 2007 stood at Lm40.2 million (€93.6 million), up by Lm22.1 million (€51.5 million) from the same month last year. There was a decrease in both imports and exports of Lm2.8 million (€6.6 million) and Lm25.0 million (€58.1 million) respectively. The decrease in imports was mainly due to machinery and transport equipment.

Food, beverages and tobacco, machinery and transport equipment and miscelleous manufactured articles accounted for the decrease in exports during November 2007 when compared to the same month last year. However, some entries relating to ‘food’ have not yet been captured.

During the first eleven months of the year, the visible trade gap narrowed by Lm32.3 million (€75.1 million) to stand at Lm446.9 million (€1,041.0 million). This came about because of a decrease of Lm35.1 million (€81.8 million) in imports during this period, and a decrease of Lm2.8 million (€6.7 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.

An analysis of the total trade balance by commodity group, indicates that the improvement in the balance for the first eleven months of 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 directed to the European Union during the first eleven months of 2007.