Be the first to comment!Visible trade gap in August widened by €55.2m on last year – NSO
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Preliminary figures show that the visible trade gap widened by €55.2 million in August when compared to the corresponding month last year, the National Statistics Office said today.
Provisional data for international trade show that the visible trade gap in August stood at €164.6 million, up by €55.2 million when compared to the corresponding month last year.
There were decreases in imports and exports of €102.5 million and €157.7 million respectively. The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials. Other decreases were registered in miscellaneous manufactured articles, semi-manufactured goods, beverages and tobacco, miscellaneous transactions and commodities, chemicals, crude materials and animal and vegetable oils and fats. Mineral fuels, lubricants and related materials accounted for the main decrease in exports, with other decreases recorded for machinery and transport equipment, beverages and tobacco, miscellaneous manufactured articles, food, and miscellaneous transactions and commodities.
In the first eight months this year, the visible trade gap narrowed by €101.3 million, to €1,307.3 million. The 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 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 United Kingdom, France and Germany. Exports to the euro area declined, mainly to France, the Netherlands, Germany, Italy and Spain, while increases in exports were recorded for Greece, Singapore, Libya, Russia and India.
