Provisional data for international trade show that the visible trade gap in October 2008 stood at €70.6 million, down by €103.3 million compared to the same month last year. There was a decrease in imports of €101.6 million and an increase in exports of €1.7 million.

The decrease in imports was due to capital goods, industrial supplies and consumer goods. Food, mineral fuels, lubricants and related materials, and semi-manufactured goods accounted for the increase in exports during October 2008 when compared to the same month last year.

During the first ten months this year, the visible trade gap narrowed by €0.4 million, to stand at €1,131.4 million. This came about because of a decrease of €130.4 million in imports and a decrease of €130.0 million in exports. The decline in imports was mainly due to machinery and transport equipment.

Decreases were also registered in miscellaneous manufactured articles, chemicals, miscellaneous transactions and commodities, crude materials and food. During this period the drop 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.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first ten months of 2008.

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