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The Malta Federation of Industry considers that the latest trade figures, published by the NSO, outline some resurgence over the corresponding period last year but the organization hopes that the momentum is maintained for the coming months before “getting too excited on the figures.”
“The comparison is with a very low base and therefore this upturn should be taken with a degree of caution,” the FOI insists.
The figures show a slight increase in the visible trade gap, but highlight a significantly increased export figure, especially in machinery and transport equipment. Another positive indicator is the increase in the importation of industrial supplies and capital goods, which signals that firms from a number of sectors are preparing for increased investment and production levels.
“The FOI, through its monthly industry survey has also been noting a gradual improvement in domestic and external order books and a steady increase in the number of companies expecting to increase production over the coming months. Coming at a time when operating costs for business operators have escalated substantially – particularly those of government administered services - the FOI augurs that this resurgence is not short-lived and that Malta’s competitiveness does not slip further,” the federation says.
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