Preliminary figures show that the visible trade gap shrank by €14.7 million in February 2009 when compared to February 2008.

Provisional data for international trade show that the visible trade gap in February 2009 stood at €87.2 million, down by €14.7 million compared to the same month last year. There was a decrease in imports of €76.2 million and a decrease in exports of €61.5 million. The decrease in imports was due to industrial supplies, capital goods and consumer goods.

Machinery and transport equipment, miscellaneous manufactured articles, chemicals and food accounted for the decrease in exports during February 2009 when compared to the same month last year.

During the first two months this year, the visible trade gap widened by €6.7 million, to stand at €210.4 million. This came about because of a decrease of €121.2 million in imports and a decrease of €127.9 million in exports. The decline in imports was mainly due to machinery and transport equipment.

Decreases were also registered in mineral fuels, lubricants and related materials, food and miscellaneous manufactured articles. During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles, chemicals and food.

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

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