Malta’s trade deficit widened by €675 million for the first seven months of 2019 when compared to the same period last year, reaching €2,451 million.
Figures released by the National Statistics Office (NSO) show that imports increased by €648.6 million while exports decreased by €26.4 million.
Higher imports were mainly attributable to machinery and transport equipment (€706.4 million) and were partly outweighed by a decrease of €70.4 million in mineral fuels, lubricants and related materials.
The main decrease in exports was registered in mineral fuels, lubricants and related materials (€86.9 million), partly outweighed by increases of €38.8 million and €30.4 million in miscellaneous manufactured articles and chemicals respectively.
For the same reference period, imports from the EU reached €2,918.2 million, or 66.8 per cent of total imports. There was a decrease of €319.7 million in imports from euro area countries when compared to the same period in 2018.
Main increases and decreases in imports were registered from the United Kingdom (€812.2 million) and Italy (€211.0 million) respectively. With respect to exports, the main increase was directed to Spain (€30.3 million), whereas Egypt (€22.2 million) registered the highest decrease.
International Trade in Goods: July 2019
Provisional data for registered international trade recorded a trade deﬁcit of €348.2 million during July, compared to a deﬁcit of €211.7 million in the corresponding month of 2018.
Imports experienced an increase of €70.1 million while exports decreased by €66.4 million when compared to the same month of previous year. The increase in the value of imports was primarily due to machinery and transport equipment (€45.9 million) and mineral fuels, lubricants and related materials (€27.9 million).
On the exports side, mineral fuels, lubricants and related materials (€78.4 million) accounted for the main decrease, partly outweighed by an increase of €9.9 million in chemicals.