PN concerned that Malta’s industries producing and exporting less

Industries are producing and exporting less, PN deputy leader Mario de Mario and commerce spokesperson Robert Arrigo said in a joint statement.

They cited recent national statistics that indicate that industrial production in December 2014 decreased by 3.6% when compared to December 2013.

“While Malta’s general economic prospects may be positive, the current realities in certain sectors of the economy are of concern,” the PN MPs said. “This was not a one off decrease, as statistics confirm that since March 2013 to December 2014, industrial production has been decreasing constantly each month, with the notable exception of only three months.”

Citing further national statistics released earlier this week, they added that exports from Malta have dropped by €720 million in just two years.

“This is equivalent to a 16% drop,” they pointed out. “Any commercial business that sees its sales dropping by 16% would be justifiably worried. Also, this decrease can have a huge impact on employees’ income.”

Citing Eurostat statistics, they also said that, whilst retail trade has increased across Europe, Malta was one of the few countries that registered a drop.

“A separate survey showed that 40% of GRTU members experienced a drop in sales,” De Marco and Arrigo said. “It is unfortunate however that Government is refusing to acknowledge that something is amiss in these sectors focusing its attention on other areas of the economy that are performing. well.”

“While the Opposition welcomes the European Commission’s report which is forecasting a positive economic future, it is concerned on the present situation being faced by industrialists, business owners and families alike. The weak performance of the retail and manufacturing sector has the potential of affecting the income of thousands of families.” 

They reiterated their call for the government to hold a “serious and open discussion on the state of Malta’s economy” and urged the government to help troubled sectors out by lowering the price of fuel with immediate effect.