Trade gap widens by €55.2 million in August 2013

Provisional data for international trade show that the visible trade gap in August stood at €164.6 million, up by €55.2 million from last year.

According to the National Statisics Office, imports decreased by €102.5 million, whilst exports also decreased by €157.7 million.

The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials.

There were also decreases in manufactured articles, semi-manufactured goods, beverages, tobacco, and animal and vegetable oils and fats amongst other goods.

The biggest decreases in exports were recorded as being those in mineral fuels, lubricants and related materials, whilst machinery and transport equipment, beverages and tobacco, miscellaneous manufactured articles and food also witnessed a decline.

In the first eight months of this year, the visible trade gap narrowed by €101.3 million, to €1,307.3 million.

A decrease in imports of €508.6 million was mainly due to mineral fuels, lubricants and related materials. Other decreases were recorded for the major commodity groups.

Exports for the same period registered a decrease in value of €407.3 million, primarily due to mineral fuels, lubricants and related materials. Other decreases were noted for machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, miscellaneous transactions and commodities, crude materials, and beverages and tobacco.

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 Greece and the Netherlands, while there were decreases from Italy, Spain, the UK, France and Germany.

Exports to the euro states declined, mainly to France, the Netherlands, Germany, Italy and Spain, while increases in exports were recorded for Greece, Singapore, Libya, Russia and India.