GozoNews.Com

Provisional data for international trade show that the visible trade gap in February 2008 stood at €94.7 million, up by €8.1 million from the same month last year. There was an increase in both imports and exports of €11.1 million and €3.0 million respectively.

The increase in imports was mainly due to food, machinery and transport equipment, beverages and tobacco and semi-manufactured goods. Chemicals, food, semimanufactured goods and miscellaneous manufactured articles accounted for the increase in exports during February 2008 when compared to the same month last year.

During the first two months this year, the visible trade gap widened by €26.8 million to stand at €193.1 million. This came about because of an increase of €42.3 million in imports during this period, and an increase of €15.4 million in exports.

Higher import values were registered for mineral fuels and lubricants, consumer goods and industrial supplies, while capital goods registered a drop. During this period the increase in exports was generated primarily by chemicals, food, miscellaneous transactions and commodities and semi manufactured goods.

An analysis of the total trade balance by commodity group, indicates that the improvement in the balance for the first two months of 2008 was mainly due to mineral fuels and lubricants, chemicals, semi-manufactured goods and miscellaneous transactions and commodities.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first two months of 2008,