Be the first to comment!Trade deficit widened by €116.7 million in October when compared to 2012
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Preliminary figures show that the trade deficit widened by €116.7 million in October when compared to the corresponding month last year, the National Statistics Office reported today.
Provisional data for international trade show that the trade deficit in October stood at €183.8 million, up by €116.7 million when compared to the corresponding month last year. Decreases were recorded in both imports and exports of €5.9 million and €122.6 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, food, semi-manufactured goods, chemicals, beverages and tobacco, miscellaneous transactions and commodities, and crude materials. Mineral fuels, lubricants and related materials accounted also for the main decrease in exports.
Other decreases in exports include machinery and transport equipment, chemicals, miscellaneous manufactured articles, beverages and tobacco, crude materials, semi-manufactured goods, and miscellaneous transactions and commodities.
During the ten-month period under review, the trade deficit widened by €70.5 million, to €1,604.4 million. The decrease in imports of €478.9 million was mainly due to mineral fuels, lubricants and related materials, with other decreases recorded for all the other major commodity groups except for machinery and transport equipment. Exports registered a decrease in value of €549.4 million, which was primarily due to mineral fuels, lubricants and related materials.
Other decreases were noted for machinery and transport equipment, semi-manufactured goods, miscellaneous manufactured articles, 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, while decreases were noted from Italy, Spain, the United Kingdom, France, Germany and the Netherlands.
Exports to the euro area declined, mainly to France, Italy, the Netherlands, Spain and Germany. Increases in exports were recorded for Greece, Libya, India, Taiwan and the Republic of Korea.
