Visible trade gap narrows by €15 million

In a statement detailing the shifts in importation and exportation, the National Statistics Office said that there were increases in imports and exports - €46.6 million and €61.7 million respectively.

The increase in imports was mainly due to fuels, lubricants and industrial supplies, while decreases were registered in consumer goods and capital goods. Food accounted for the main increase in exports when compared to the corresponding month in 2009.

Other increases were registered in mineral fuels, lubricants and related materials, machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, chemicals, miscellaneous transactions and commodities, and crude materials

A decrease was however registered in beverages and tobacco.

In the first eleven months (January to November) of 2010, the visible trade gap narrowed by €55.3 million to stand at €1,255.7 million. This was due to an increase in imports and exports of €433.5 million and €488.9 million respectively, when compared to the corresponding period in 2009.

The increase in imports was due to industrial supplies, fuels and lubricants, capital goods and consumer goods. During this period the rise in exports was primarily due to machinery and transport equipment.

Other increases were noted in mineral fuels, lubricants and related materials, food, chemicals, semi-manufactured  foods, miscellaneous transactions and commodities, miscellaneous manufactured articles, beverages and tobacco, and crude materials.

The bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union. Drops were registered in imports from the United Kingdom, the Netherlands, France, Greece and Spain, while increases were recorded from Italy and Germany.

Exports to the euro area show an increase, mainly to Germany, France, Italy and Greece, with other significant increases being recorded for Japan, the United States of America, the United Kingdom, China and Singapore.