Trade deficit up by €45.9 million in March

Provisional data for international trade from the NSO show that the trade deficit in March stood at €122.2 million, up by €45.9 million when compared to the corresponding month in 2013.

There were decreases in both imports and exports of €14.1 million and €60.0 million respectively. The decrease in the value of imports was primarily due to machinery and transport equipment, with other declines registered in food, miscellaneous manufactured articles, miscellaneous transactions and commodities, chemicals, and animal and vegetable oils and fats.

Machinery and transport equipment accounted for the main decrease in the value of exports when compared to the corresponding month last year. Other notable drops were registered for mineral fuels, lubricants and related materials, chemicals, miscellaneous manufactured articles, semi-manufactured goods

In the first quarter this year, the trade deficit widened by €63.1 million, to €347.6 million.

Both imports and exports registered decreases when compared to the period between January and March 2013. The decrease in imports of €12.4 million was mainly due to machinery and transport equipment, with other decreases registered for miscellaneous manufactured articles, food, miscellaneous transactions and commodities, chemicals, beverages and tobacco, and crude materials.

The decline in the value of exports of €75.6 million was primarily due to machinery and transport equipment. Other decreases were noted for all sectors except beverages and tobacco, and crude materials.

Malta’s trade imports from the European Union reached €680.1 million, or 53.5 per cent of the total. There was a drop of €58.0 million in imports from euro area countries. Increases were registered from the United States of America, Spain, Saudi Arabia, Belgium and the United Kingdom. However, imports from Libya, Italy, France, the Netherlands, Germany, the Republic of Korea, China, Turkey, Japan, Switzerland and India showed a decrease.

Exports to the euro area decreased by €26.4 million, mainly to France, the Netherlands, Spain and Belgium, while increases in exports were recorded for Libya, the United States of America and Italy.