Provisional data for international trade shows that the visible trade gap in March, 2007 stood at Lm30.6 million, down by Lm22.5 million from the same month of last year, the National Statistics Office said yesterday.

There was a decrease in imports of Lm10.3 million while exports increased by Lm12.2 million. The shortfall in imports was mainly due to less imports of machinery and transport equipment, and miscellaneous manufactured articles. Chemicals, machinery and transport equipment and miscellaneous manufactured articles accounted for most of the increase in exports during March when compared to the same month last year.

From the perspective of the first three months of the year, the visible trade gap narrowed by Lm35.9 million to stand at Lm102.6 million. This came about due to a decrease of Lm23.4 million in imports during this period, with exports increasing by Lm12.5 million.

Higher import values were registered for industrial supplies, consumer goods and fuel and lubricants, but there were decreases in capital goods. During this period, the increase in exports was generated primarily by chemicals, machinery and transport equipment, miscellaneous manufactured articles, as well as mineral fuels and lubricants.

An analysis of the Total Trade Balance by commodity group indicates that the improvement in the balance for the first three months of 2007 was mainly due to higher exports of chemicals, machinery and transport equipment, and miscellaneous manufactured articles.

The bulk of Malta’s trade flows and consequent deficit continued to be directed to the European Union during the first three months of 2007.