GozoNews.Com

Provisional data for international trade show that the visible trade gap in March 2008 stood at €87.2 million, up by €9.5 million from the same month last year.

There was a decrease in both imports and exports of €22.7 million and €32.2 million respectively. The decrease in imports was mainly due to food, machinery and transport equipment, miscellaneous manufactured articles and semi-manufactured goods.

Machinery and transport equipment, miscellaneous manufactured articles and miscellaneous transactions and commodities accounted for the decrease in exports during March 2008 when compared to the same month last year.

During the first three months this year, the visible trade gap widened by €46.1 million to stand at €290.4 million. This came about because of an increase of €30.4 million in imports during this period, and a decrease of €15.6 million in exports. Higher import values were registered for mineral fuels and lubricants, food, beverages and tobacco, chemicals and miscellaneous transactions and commodities.

During this period the decrease in exports was generated primarily by machinery and transport equipment, miscellaneous manufactured articles, and semi-manufactured goods.

An analysis of the total trade balance by commodity group, indicates that the deterioration in the balance for the first three months of 2008 was mainly due to mineral fuels, lubricants and related materials, and machinery and transport equipment.

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