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Imports growing much faster than exports

Date: 11/11/2010

The visible trade gap in September stood at €146.9 million, up by €72.8 million when compared to the corresponding month in 2009, according to the NSO.

It said that imports and exports were up by €85.2 million and €12.4 million respectively. The increase in imports was mainly due to capital goods, industrial supplies and fuels and lubricants, while a decrease was registered in consumer goods.

Transport equipment accounted for the main increase in exports during September when compared to the corresponding month last year.

Other increases were registered in semi-manufactured goods, mineral fuels, lubricants and related materials, crude materials, beverages and tobacco, and food. Decreases were registered in chemicals, miscellaneous manufactured articles, and miscellaneous transactions and commodities. In the first nine months this year, the visible trade gap narrowed by €145.5 million to €964.7 million.

This came about because of increases in imports and exports of €278.2 million and €423.7 million respectively, when compared to the corresponding period in 2009. The increase in imports was due to industrial supplies, fuels and lubricants, capital goods and consumer goods. During this period the rise in exports was primarily due to machinery and transport equipment.

Other increases were noted in mineral fuels, lubricants and related materials, chemicals, food, semi-manufactured goods, miscellaneous transactions and commodities, miscellaneous manufactured articles, beverages and tobacco, and crude materials.

During the first nine months this year the bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union. Drops were registered in imports from the United Kingdom, the Netherlands, France and Spain, while increases were recorded from Italy, Germany and Belgium. Exports to the euro area show an increase, mainly to Germany, France, Italy, Belgium and Spain, with other significant increases being recorded for the United States of America, the United Kingdom, Japan, Singapore and China.

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