Trade up by €72.8 million, imports higher than exports

According to statistics published by the National Statistics Office (NSO), increases in imports and exports were of €85.2 million and €12.4 million respectively.

“The increase in imports was mainly due to capital goods, industrial supplies and fuels and lubricants, while a decrease was registered in consumer goods,” the report reads.

Machinery and transport equipment accounted for the main increase in exports during September.

Other increases were registered in semi-manufactured goods, mineral fuels, lubricants and related materials, crude materials, beverages and tobacco, and food. Decreases were registered in chemicals, miscellaneous manufactured articles, and miscellaneous transactions and commodities.

The reports shows that in the first nine months of this year, the visible trade gap narrowed by €145.5 million to €964.7 million.

“This came about because of increases in imports and exports of €278.2 million and €423.7 million respectively,” NSO reports.  “The increase in imports was due to industrial supplies, fuels and lubricants, capital goods and consumer goods.”

Between January and September 2010, the rise in exports was primarily due to machinery and transport equipment.

Other increases included mineral fuels, lubricants and related materials, chemicals, food, semi-manufactured goods, miscellaneous transactions and commodities, miscellaneous manufactured articles, beverages and tobacco, and crude materials.

According to the report, the bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union.

Exports to the euro area show an increase, mainly to Germany, France, Italy, Belgium and Spain, with other increases being recorded for the US, the UK, Japan, Singapore and China.

However, the NSO also registers drops in imports from the United Kingdom, the Netherlands, France and Spain, while increases were recorded from Italy, Germany and Belgium.