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Visible trade gap improved by €14.5 million in March

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Visible trade gap improved by €14.5 million in MarchPreliminary figures show that the visible trade gap improved by €14.5 million in March 2009 when compared to March 2008.

Provisional data for international trade show that the visible trade gap in March 2009 stood at €82.1 million, down by €14.5 million compared to the same month last year. There was a decrease in imports of €58.8 million and a decrease in exports of €44.3 million. The decrease in imports was mainly due to industrial supplies and fuel and lubricants.

Machinery and transport equipment, chemicals and semi-manufactured goods accounted for the decrease in exports during March 2009 when compared to the same month last year.

During the first quarter this year, the visible trade gap shrank by €3.2 million, to stand at €297.1 million. This came about because of a decrease of €174.5 million in imports and a decrease of €171.3 million in exports. The decline in imports was mainly due to machinery and transport equipment and mineral fuels, lubricants and related materials. Decreases were also registered in miscellaneous manufactured articles, semi-manufactured goods and chemicals.

During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in chemicals, miscellaneous manufactured articles, food and semi-manufactured goods.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first quarter of 2009.

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