Trade gap down by €50 million over March 2012

Provisional data for international trade show that the visible trade gap in March stood at €70.4 million, down by €50.4 million when compared to the corresponding month last year. There was a marginal increase in imports of €1.2 million, while exports also registered an increase of €51.6 million.

The increases in the value of imports and exports were primarily due to mineral fuels, lubricants and related materials. Other increases in exports were registered for chemicals, machinery and transport equipment, miscellaneous manufactured

articles, and beverages and tobacco.

In the first quarter this year the visible trade gap narrowed by €61.0 million, to €281.7 million.

The decrease in imports of €149.3 million was mainly due to mineral fuels, lubricants and related materials. Decreases were also registered for machinery and transport equipment, chemicals, semi-manufactured goods, food, miscellaneous transactions and commodities, and crude materials. The decrease in the value of exports of €88.4 million was also due to mineral fuels, lubricants and related materials. Other decreases were noted for miscellaneous manufactured articles, machinery and transport equipment, semi-manufactured goods, crudematerials, and miscellaneous transactions and commodities.

A substantial amount of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union.

Decreases were registered in imports from Italy, the United Kingdom, France, Germany, Spain and Belgium. On the other hand, imports from Russia, Libya, Norway, Singapore, the Netherlands, the Republic of Korea, India and China showed an increase. Exports to the euro area declined, mainly to Germany, France, the Netherlands, Italy and Belgium. Increases in exports were recorded for Libya, Singapore, Russia, India, Spain, the United Kingdom, the United States of America, China and Norway.