Trade deficit rises to €247 million in April

The trade deficit in April stood at €247.0 million, up by €138.4 million when compared to the corresponding month in 2015.

Figures reveal that imports increased by €59.6 million while exports decreased by €78.7 million, with the increase in the value of imports being primarily due to mineral fuels, lubricants and related materials (€60.0 million).

The major commodity groups that accounted for the decrease in exports were mineral fuels, lubricants and related materials (€23.6 million), food (€17.8 million), miscellaneous manufactured articles (€15.1 million), machinery and transport equipment (€13.4 million), and chemicals (€8.1 million), the NSO adds.

Data shows that during the first four months this year, the trade deficit widened by €312.8 million when compared to the corresponding period last year. Imports show an increase of €162.1 million, with exports decreasing by €150.7 million.

NSO adds that higher imports were mainly due to machinery and transport equipment, which increased by €307.5 million, which was partly outweighed by a decrease of €125.3 million in mineral fuels, lubricants and related materials. Meanwhile, the decrease in the value of exports was triggered by lower mineral fuels, lubricants and related materials (€219.7 million). which was partly outweighed by an increase of €135.6 million in chemicals, the data shows.

Figures show that Malta’s trade imports from the European Union reached €846.2 million, or 38.2% of total imports. There was a decrease of €120.4 million in imports from euro area countries when compared to the same period last year. Main increases and decreases in imports were registered from France (€38.7 million) and Italy (€110 million) respectively.

The main increase in exports was directed to the United States of America (€155.1 million), whereas Egypt (€93.7 million) registered the highest decrease.