Provisional data for international trade show that the visible trade gap in October 2008 stood at e70.6 million, down by e103.3 million when compared to the same month last year, the National Statistics Office said yesterday. There was a decrease in imports of e101.6 million and an increase in exports of e1.7 million. The decrease in imports was due to capital goods, industrial supplies and consumer goods. Food, mineral fuels, lubricants and related materials, and semi-manufactured goods accounted for the increase in exports during October 2008 when compared to the same month last year.

During the first 10 months this year, the visible trade gap narrowed by e0.4 million, to stand at e1,131.4 million. This came about because of a decrease of e130.4 million in imports and a decrease of e130.0 million in exports. The decline in imports was mainly due to machinery and transport equipment. Decreases were also registered in miscellaneous manufactured articles, chemicals, miscellaneous transactions and commodities, crude materials and food.

During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles and mineral fuels, lubricants and related materials.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first 10 months of 2008.