The Malta Federation of Industry considers that the latest trade figures, published by the NSO, indicate some resurgence over the corresponding period last year. However, this momentum must be maintained over the coming months before people get too excited over the figures. The comparison is with a very low base, it said, and this upturn should therefore be taken with a degree of caution.

In a statement, the FOI said that 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 running costs for business operators have risen substantially – particularly those of government-administered services – the FOI said it hoped that this resurgence is not short-lived and that Malta’s competitiveness does not slip further.