EU imports mark 40% of Malta’s trade imports

Provisional data for international trade show that the trade deficit in May stood at €256.3 million, down by €167.7 million when compared to the corresponding month in 2015. According to the National Statistics Office, imports decreased by €104.9 million while exports increased by €62.8 million.

The decrease in the value of imports was primarily due to machinery and transport equipment (€93.4 million). On the other hand chemicals accounted for the main increase in exports (€72.9 million).

January-May 2016

During the first five months this year, the trade deficit widened by €154.4 million when compared to the corresponding period last year. Imports show an increase of €70.2 million, with exports decreasing by €84.2 million.

Higher imports were mainly due to machinery and transport equipment, which increased by €218.4 million. This was partly outweighed by a decrease of €121.6 million in mineral fuels, lubricants and related materials.

The decrease in the value of exports was mainly triggered by lower mineral fuels, lubricants and related materials (€208.2 million), miscellaneous manufactured articles (€38.1 million) and machinery and transport equipment (€30.5 million).

This was partly outweighed by an increase of €208.2 million in chemicals.

Malta’s trade imports from the European Union reached €1,113.5 million, or 39.8 per cent of total imports. There was a decrease of €308.3 million in imports from euro area countries when compared to the same period last year.

Main increases and decreases in imports were registered from the Caribbean and Bahamas Islands (€502.8 million) and the Netherlands (€238.1 million) respectively.

On the export side the main increase was directed to the United States of America (€228.3 million), whereas Egypt (€64.4 million) registered the highest decrease.