GozoNews.Com

Provisional data for international trade show that the visible trade gap in December 2007 stood at Lm46.1 million (€107.4 million), up by Lm17.9 million (€41.7 million) when compared to the same month in 2006. There was an increase in imports of Lm13.4 million (€31.3 million) and a decrease in exports of Lm4.5 million (€10.4 million) respectively.

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 2007 the visible trade gap narrowed by Lm13.6 million (€31.5 million) to stand at Lm494.1 million (€1,151.0 million). This came about because of a decrease of Lm19.9 million (€46.2 million) in imports during this period, and a decrease of Lm6.3 million (€14.7 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 2007 was mainly due to machinery and transport equipment, chemicals and crude materials.

The bulk of Malta’strade flows and consequent trade deficit continued to be directed towards the European Union during 2007.