Provisional data for international trade show that the visible trade gap in June 2008 stood at €91.8 million, down by €14.4 million from the same month last year.
There was a decrease in imports of €46.1 million and a decrease in exports of €31.6 million. The decrease in imports was mainly due to fuel and lubricants and industrial supplies. Machinery and transport equipment, mineral fuels, lubricants and related materials and miscellaneous manufactured articles accounted for the decrease in exports during June 2008 when compared to the same month last year.
During the first six months this year, the visible trade gap widened by €40.5 million, to stand at €652.6 million. This came about because of a decrease of €41.9 million in imports and a decrease of €92.4 million in exports. The decrease in imports was mainly due to machinery and transport equipment. Decreases were also registered in semi-manufactured goods.
During this period the decrease in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles and mineral fuels, lubricants and related materials.
An analysis of the total trade balance by commodity group, indicates that the deterioration in the balance for the first six months of 2008 was mainly due to mineral fuels, lubricants and related materials, which widened the trade gap by €83.2 million. The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first six months of 2008.