Visible trade gap narrows by €112 million

Provisional data for international trade show that the visible trade gap in October stood at €55.3 million, down by €112.2 million when compared to the corresponding month in 2010.

There were increases in imports and exports of €53.9 million and €166.2 million respectively. The increase in imports was due to fuels and lubricants, while other increases were registered in food, animal and vegetable oils and fats, and beverages and tobacco. Fuels and lubricants also accounted for the main increase in exports when compared to the corresponding month in 2010. Other increases were recorded in machinery and transport equipment, miscellaneous manufactured articles, food and crude materials.

January-October 2011

In the first ten months this year, the visible trade gap widened by €76.7 million, to stand at €1,349.7 million. The increase in imports of €460.9 million was due to fuels and lubricants, industrial supplies, capital goods, and consumer goods. The rise in exports of €384.3 million was primarily due to mineral fuels, lubricants and related materials. Other increases were noted in machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, and crude materials. Decreases were recorded in chemicals, miscellaneous transactions and commodities, beverages and tobacco, and food.

The bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union. Increases were registered in imports from Italy, France, Germany, and the Netherlands. Exports to the euro area showed a decrease, mainly to France, Italy and Belgium, but there were increases to Germany, Greece and the Netherlands. Other increases were recorded for China, the United Kingdom, Switzerland and India.