Visible trade gap widens by €5.5 million

Provisional data for international trade show that the visible trade gap in November stood at €148.5 million, up by €5.5 million when compared to the corresponding month in 2010.

There were increases in imports and exports of €381.7 million and €376.2 million respectively.

The increase in imports was due to mineral fuels and lubricants, while other increases were registered in beverages and tobacco, miscellaneous transactions and commodities, and crude materials.

Mineral fuels and lubricants also accounted for the main increase in exports when compared to November 2010. Other increases were recorded in machinery and transport equipment, chemicals, miscellaneous manufactured articles, and beverages and tobacco.

In the first eleven months of 2011, the visible trade gap widened by €69.7 million, to stand at €1,485.9 million. The increase in imports of €871.5 million was mainly due to mineral fuels and lubricants, with other increases recorded in machinery and transport equipment, chemicals, food, beverages and tobacco, and animal and vegetable oils and fats.

The rise in exports of €801.8 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 in exports were recorded in food, miscellaneous transactions and commodities, chemicals, and beverages and tobacco.

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, Spain, France and Germany.

Exports to the euro area showed a decrease, mainly to France, Italy and Belgium, while exports to Germany, Spain and the Netherlands increased. Other increases in exports were recorded for the United Kingdom, Israel, China and Saudi Arabia.