Malta's retail trade drop highest in EU and Euro zone

Malta registered the highest drop in retail trade (3.4%) in July, despite how this increased by 0.2% in both the Euro zone and the European Union, as compared with June.

5 September 2011, 12:00am

1 min read

Over 2011, Malta has also registered the highest drop in retail trade across both the European Union and the Euro zone, with a drop of 8.9%.

In June, retail trade figures had risen by 0.7% and 0.5% respectively. These first estimates come from Eurostat, the statistical office of the European Union.

Monthly changes In July 2011, compared with June 2011, “Food, drinks and tobacco” fell by 0.4% in the euro area and by 0.3% in the EU27. The non food sector increased by 0.5% and 0.6% respectively, Eurostat added.

Among the Member States for which data are available, total retail trade grew in ten, fell in nine and remained stable in Germany and Spain.

The largest increases were observed in Portugal (+2.5%), Romania (+2.2%) and Latvia (+1.8%), and the highest decreases in Malta (-3.4%), Finland (-1.9%) and Denmark (-1.7%).

In July 2011, compared with July 2010, “Food, drinks and tobacco” fell by 2.0% in the euro area and by 2.2% in the EU27, Eurostat figures showed.

The non food sector increased by 1.7% in both zones and among the Member States for which data are available, total retail trade rose in twelve and decreased in nine.

The largest decreases were observed in Malta (-8.9%), Portugal (-5.3%) and Denmark (-5.1%), and the highest increases in Luxembourg (+8.3%), Lithuania (+7.8%) and Latvia (+6.4%).

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And I thought that Government was saying everything was hunky dory? Malta needs new inward investments. And there are are companies awaiting to enter the Malta Economy now but how long must they wait before they get recognised. Remember that there is this Trans-European company with Solar and Wind and Sea Power already awaiting in the area to assist Malta. Their proposal for COMBINED SEA TURBINES AND WIND TURBINES OFF_SHORE would be the best proposal ever for Us in Malta. Now they want to add SOLAR POWER TO WIND TURBINES ON LAND. Goevernment wake up you are missing out.

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Local economists have long predicted this. This thanks to ever rising cost of living, most of which is government induced. And this under the leadership of the mythical 'Par idejn sodi'

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Malta's retail trade drop highest in EU and Euro zone------------------ Perhaps the fact that Malta has the highest prices in the Euro zone might have something to do with it.