31 August - 6 September 2000

Trade gap increases by Lm58.6m

by Anthony Manduca

The trade gap in the first six months of this year has increased by Lm58.6 million or 33.7 per cent to Lm206.5 million from Lm147.9 million, the latest figures from the Central Office of Statistics, show.

From January to June total imports increased by Lm176.6 million or 33.1 per cent to Lm710.3 million from Lm533.7 million in the same period last year.

There was a major increase in the importation of machinery and transport equipment, from Lm275.5 million to Lm403.4 million, as well as in mineral fuels and lubricants, from Lm24.1 million to Lm49.7 million.

Malta's exports also increased from January to June of this year, reaching Lm455.8 million compared to Lm349.9 in the same period last year.

The increase was due to surge in the export of machinery and transport equipment, which went up from Lm232.6 million to Lm342.1 million.

Re-exports also increased, from Lm35.9 million to Lm48 million, mainly due to an increase in the sale of mineral fuels, lubricants and related materials.

In the first six months of the year, imports from all regions in the world increased, except from EFTA countries, which remained stable, while exports to EFTA, America and Asia increased.

Exports to the European Union decreased from Lm198.6 million to Lm181.4 million and exports to Africa declined from Lm13 million to Lm10.1 million.