In the period January to June of this year, total exports went down by Lm69.4 million or 15.1 per cent to Lm390.1 million from Lm459.5 million of the same period of 2004, NSO figures show.
Total imports for the period January-June 2005 decreased by Lm29.4 million or 4.6 per cent to Lm614.9 million from Lm644.3 million for the same period of last year.
Exports in June 2005 were down by Lm5 million on last year, while imports were down by Lm1.1 million, NSO figures show.
In the month under review, total exports went down to Lm68.3 million from Lm73.3 million of June 2004.
Total imports reached Lm100.8 million, Lm1.1 million less when compared to June 2004.
The importation of industrial supplies went up by Lm4.9 million to Lm45.1 million from Lm40.2 million. On the other hand a decrease of Lm2.6 million was registered in imports of capital goods. Consumer goods imports show a decrease of Lm2.4 million from Lm29.6 million last year to Lm27.2 million this year, while the importation of fuel and lubricants also decreased by Lm1.0 million.
Merchandise Trade: January-June
Total imports for the period January-June 2005 decreased by Lm29.4 million or 4.6 per cent to Lm614.9 million from Lm644.3 million for the same period of last year.
Imports of industrial supplies decreased by Lm9.8 million or 3.4 per cent to Lm281.3 million. The importation of capital goods went down to Lm107.9 million, representing a decrease of Lm25.5 million or 19.1 per cent. This decrease was mainly due to last years’ registration of luxury yachts under the VAT on Yachts Scheme. On the other hand consumer goods imports increased by Lm10.3 million or 6.5 per cent from Lm157.7 million to Lm168.0 million. Imports of fuel and lubricants registered a decrease of Lm4.4 million or 7.1 per cent. In the period January-June 2005, total exports went down by Lm69.4 million or 15.1 per cent to Lm390.1 million from Lm459.5 million of the same period of 2004.
Visible Trade Gap
During June 2005 the visible trade gap widened by Lm3.9 million to Lm32.5 million from Lm28.6 million of the same month of 2004, with the overall visible trade gap for the first six months of 2005 widening by Lm40.0 million to Lm224.8 million from Lm184.8 million reported in the period January-June 2004.
Direction of Trade
In the first six months of 2005, the European Union remained the main trading partner of Malta, with arrivals reaching Lm434.2 million or 70.6 per cent of total imports. The main trading partners within the EU were Italy, the United Kingdom, France and Germany with Lm178.5 million, Lm65.7 million, Lm56.7 million and Lm50.6 million respectively.
Imports from Asia totalled Lm88.4 million, or 14.4 per cent of total imports, with Singapore registering Lm27.9 million followed by Japan with Lm13.3 million and China with Lm10.8 million.
Total dispatches to the European Union for the period January-June 2005 amounted to Lm202.4 million, representing 51.9 per cent of the total figure for exports. France, with Lm60.8 million, followed by the United Kingdom with Lm48.7 million and Germany with Lm44.5 million were the three main partners within the EU. Exports to Asia stood at Lm82.9 million, or 21.3 per cent, while those to North and Central America reached Lm65.0 million, or 16.7 per cent.