Visible trade gap widens

The visible trade gap in November stood at €175.6million, up by €10.7 million when compared to the corresponding month in 2011. There were decreases in imports and exports of €306.9 million and €317.6 million respectively.

The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials, with other declines registered for machinery and transport equipment.

Mineral fuels, lubricants and related materials accounted for the main decrease in the value of exports when compared to the corresponding month in 2011.

In the first eleven months last year, the visible trade gap widened by €382.2 million, to €1,822.4million. The increase in imports of €758.1 million was mainly due to mineral fuels, lubricants and related materials. Increases were also registered for food, beverages and tobacco, miscellaneous manufactured articles, crude materials, and animal and vegetable oils and fats.

 The rise in the value of exports of €375.9 million was primarily due to mineral fuels, lubricants and related materials.

A substantial amount 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, the Netherlands, Germany, Belgium, and the United Kingdom, while there was a decrease from France.

Exports to the euro area increased mainly to the Netherlands, Germany, France, Spain and Belgium. Increases in exports were also recorded for Libya, Turkey, Singapore and the United States of America.