Preliminary figures show that the visible trade gap widened by Lm22.1 million (€51.5 million) in November when compared to November 2006, but narrowed in the first 11 months of last year, the National Statistics Office reported yesterday.

Provisional data for international trade show that the visible trade gap in November 2007 stood at Lm40.2 million (€93.6 million), up by Lm22.1 million (€51.5 million) from the same month the previous year. There was a decrease in both imports and exports of Lm2.8 million (€6.6 million) and Lm25.0 million (€58.1 million) respectively.

The decrease in imports was mainly due to machinery and transport equipment. Food, beverages and tobacco, machinery and transport equipment and miscellaneous manufactured articles accounted for the decrease in exports during November 2007 when compared to the same month he previous year.

During the first 11 months of the year, the visible trade gap narrowed by Lm32.3 million (€75.1 million) to stand at Lm446.9 million (€1,041.0 million). This came about because of a decrease of Lm35.1 million (€81.8 million) in imports during this period, and a decrease of Lm2.8 million (€6.7 million) in exports. Higher import values were registered for fuel and lubricants and consumer goods, while industrial supplies and capital goods registered a drop. During this period the decrease in exports was generated primarily by food, machinery and transport equipment, miscellaneous manufactured articles and beverages and tobacco.

An analysis of the total trade balance by commodity group, indicates that the improvement in the balance for the first 11 months of 2007 was mainly due to machinery and transport equipment, chemicals and crude materials.

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