Business • February 8 2004

Visible trade gap widens by Lm68 million

In the eleven-month period January to November last year, Malta’s visible trade gap – the difference between imports and exports - widened by Lm68 million to Lm331.3 million from Lm263.3 million in the previous year.
In November last year, total imports reached Lm102.1 million - Lm8.7 million less when compared to November of the previous year.
The importation of Industrial Supplies was down by Lm1.6 million to Lm52.6 million. Imports of Capital Goods was also down by Lm1.1 million from Lm16.2 million to Lm15.1 million. On the other hand importation of Consumer Goods went up by Lm0.9 million to Lm27.4 million. Fuel imports for November 2003 dropped by Lm6.9 million, compared to the same month of 2002.
In the month under review, total exports show a rise of Lm5.5 million to Lm79.7 million from Lm74.2 million of the previous year. Domestic exports were up by Lm6.4 million while re-exports declined by Lm0.9 million.
Total imports for the January to November period 2003 increased by Lm41.5 million or 3.7 per cent to Lm1172.7 million from Lm1131.2 million for the same period of 2002.
Imports of Industrial Supplies were up by Lm20.2 million to Lm601.7 million. The importation of Capital Goods went up to Lm190.6 million, representing an increase of Lm6.6 million or 3.6 per cent. Consumer Goods imports were also up by Lm14.2 million from Lm270.1 million to Lm284.3 million. Fuel imports increased marginally by Lm0.5 million.
In the period under review, total exports went down by Lm26.5 million or 3.1 per cent to Lm841.4 million from Lm867.9 million. However, in this regard, it is opportune to point out that the figure for 2002 is inclusive of the amount of Lm41.4 million accruing from the sale of aircraft. This is clearly shown by a drop of Lm52.3 million or 33.8 per cent in re-exports. On the other hand, domestic exports were up by Lm25.8 million or 3.6 per cent from Lm713.2 million to Lm739.0 million.