While the immediate impact of the current unrest in Libya is likely to be an influx of migrants, the situation could also be damaging to Malta's external trade.

Official figures show that Malta imported €34 million worth of products from Libya last year, while Maltese exports totalled €85 million.

The number of companies with Libyan shareholding in Malta stands at 310.

Trade exchanges have been on the rise, increasing by a third last year on 2009 on the back of a 50% rise in 2009 from the previous year.

Imports from Libya are mainly in mineral fuels (70%), fish and crustaceans (20%) and electrical machinery (9.6%).

Exports consist mostly of electrical machinery (55.5%), machinery and mechanical appliances (5%), textiles (4%), precious metals and jewellery (4%), essential oils (4%), and tobacco (6%).

Maltese companies also have considerable investments in Libya in tourist accommodation, construction companies and the medical sector. Some 300 Maltese are employed there.

The GRTU in a statement this morning expressed its concern over the violence and loss of life in Libya.

It said it had been approached by members having business interests in Libya in order to discuss mitigating measures that could be taken locally so that Maltese businesses would not be critically endangered until normality was restored.

It has set up an email address- libyacrisis@grtu.net - where members and non-members can communicate their interest. A meeting will be sought with the relevant authorities.