Exports to the Euro Area go up, visible trade gap widens
Exports to the euro area went up, mainly to France, Germany, Spain, the Netherlands and Belgium.
Other increases in exports were recorded for Turkey, Libya and the US.
Provisional data from the National Statistics Office also shows that the visible trade gap in June stood at €232.2 million, which means it went up by €159.1 million compared to the corresponding month last year.
There were increases in imports and exports of €198.6 and €39.6 million respectively.
The increase in the the value of imports was primarily due to mineral fuels, lubricants and related materials, with other increases registered for machinery and transport equipment, food, beverages and tobacco, crude materials and miscellaneous manufactured articles.
Mineral fuels, lubricants and related materials accounted for the main increase in the value of exports when compared to the corresponding month in 2011. Other increases were recorded in chemicals, beverages, tobacco, food and crude materials.
In the first six months this year, the visible trade gap narrowd by €24.2 million to stand at €880.5 million. The increase in imports of €448.1 million was mainly due to mineral fuels, lubricants and related materials, with an increase being registered also for food, beverages and tobacco, as well as crude materials.
The rise in value of exports of €472.3 million was primarily due to mineral fuels, lubricants and related materials. Other increases were noted in miscelaneous manufactured articles, chemicals, beverages and tobacco, semi-manufactured goods and crude materials.
The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union. Increases were registered in imports from Italy, the Netherlands, Spain and Belgium, while there were decreases from France, the UK, and Germany.