In April 2007 the visible trade gap narrowed to Lm38.2 million, implying an overall improvement of Lm42.7 million in the trade gap for the first four months of the year.

Provisional data for international trade show that the visible trade gap in April 2007 stood at Lm38.2 million, down by Lm6.2 million from the same month of last year.

There was a decrease in imports of Lm10.7 million, while exports decreased by Lm4.5 million.

The shortfall in imports was mainly due to less imports of mineral fuel and lubricants, machinery and transport equipment, and miscellaneous manufactured articles. Machinery and transport equipment accounted for the decrease in exports during April 2007 when compared to the same month of last year.

From the perspective of the first four months of the year, the visible trade gap narrowed by Lm42.7 million to stand at Lm140.4 million. This came about because of a decrease of Lm30.7 million in imports during this period, with exports increasing by Lm12.0 million. Higher import values were registered for industrial supplies and consumer goods, while capital goods imports registered decreases. During this period the increase in exports was generated primarily by food, chemicals, miscellaneous manufactured articles and mineral fuels and lubricants.

An analysis of the total trade balance by commodity group indicates that the improvement in the balance for the first four months of 2007 was mainly due to mineral fuels and lubricants, machinery and transport equipment, and miscellaneous manufactured articles. The bulk of Malta’s trade flows and consequent trade deficit continued to be directed to the European Union during the first four months of 2007.