Imports of Industrial Supplies were down by Lm21.1 million or 9.7 per cent, while Capital Goods imports rose to Lm86.9 million from Lm72.1 million, representing a substantial increase of Lm14.8 million or 20.5 per cent.

This increase is attributed to the registration of luxury sea-craft. Consumer Goods dropped by Lm3.5 million or 3.6 per cent, from Lm97.3 million to Lm93.8 million. Fuel imports show a rise of Lm3.4 million from Lm34.5 to Lm37.9 million.

In the period under review, total exports increased by Lm10.6 million or 3.6 per cent, to Lm308.9 million from Lm298.3 million. There was an increase of Lm10.6 million or 4.1 per cent in domestic exports from Lm258.5 million to Lm269.1 million. Figures for re-exports remained unchanged at Lm39.8 million.

Visible Trade Gap

In the first four months of this year, the visible trade gap narrowed by Lm17.0 million to Lm107.2 million from Lm124.2 million in the same period last year.

Direction of Trade

The European Union remained Malta’s main trading partner during the first four months of 2004. Malta bought Lm287.9 million worth of goods, representing 69.2 per cent of total imports. Imports from Asia and America totalled Lm69.5 million and Lm33.3 million respectively.

Total exports to the European Union for the period January-April 2004 reached Lm139.7 million or 45.2 per cent. Exports to Asia stood at Lm77.9 million, or 25.2 per cent, while those to America reached Lm51.5 million, or 16.7 per cent.