GozoNews.Com

Provisional data for international trade show that the visible trade gap in October stood at Lm50.0 million, up by Lm6.6 million from the same month last year. There was a decrease in exports of Lm6.6 million while imports remained practically unchanged. Food, beverages and tobacco, machinery and transport equipment and miscellaneous manufactured articles, accounted for the main decreases in exports during October when compared to the same month last year.

During the first ten months of the year, the visible trade gap narrowed by Lm58.3 million to Lm402.9 million. This came about because of a decrease of Lm37.4 million in imports during this period, while exports advanced by Lm20.9 million. Lower import values were registered for capital goods and industrial supplies, while fuel and lubricants and consumer goods registered an increase. During this period the increase in exports was generated primarily by chemicals, mineral fuels and lubricants, miscellaneous manufactured articles and crude materials.

An analysis of the total trade balance by commodity group indicates that the improvement in the balance for the first ten months of 2007 was mainly due to machinery and transport equipment, miscellaneous manufactured articles and crude materials and chemicals. The bulk of Malta’s trade flows and consequent trade deficit continued to be directed to the European Union during the first ten months of 2007.