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Exports main source of optimism for 2012

Date: 13/01/2012

Export markets are the main source of business optimism in Malta for 2012, otherwise the perception for next year is characterised by restricted investment, stable employment and constrained domestic sales, according to annual perception survey organised by Eurochambres, the pan-European business organisation.

The Eurochambres Economic Survey shows that the Maltese economy has so far held its ground in the face of the international financial and trade upheavals it has had to face. However, every economic sector is responding to its particular trade environment with different degrees of success.

Overall, the services sectors appear buoyant in their performance and expectations – although they may be focusing more on consolidating their shares in the respective markets in which they operate. On the other hand, manufacturing sectors are finding it somewhat harder to cope and they are the areas that continue to require support.

Tancred Tabone, the president of the Malta Chamber of Commerce said: “It is important to gauge our perceptions with the European benchmarks provided by the Eurochambres initiative. The perceptions captured often materialise and we call on our stakeholders to take heed of these signals.”

The results of the employment indicator suggest that while fewer new jobs will be created next year, most businesses are intent on maintaining current levels of staff.

Domestic sales predictions are estimated to be lower for next year, most probably mirroring the careful spending approach of end consumers, while investment levels would also appear to be on the decrease for next year.

“Export predictions for 2012 stand out from a scenario that is otherwise largely defined by prudence and uncertainty. Strikingly, this export optimism is to a large degree led by respondents from the manufacturing sector.

“This shows that the sector is still upbeat about entering new markets during the forthcoming year,” a statement by the Malta Chamber said.

The perception survey is carried out across 25 European countries and focuses on business perception according to a number of indicators which include employment, investment, domestic sales, exports and business confidence.

Source: Times of Malta

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