EUROSTAT: Malta’s trade deficit increases to €191.7 million

Preliminary statistics show that Malta registered a trade deficit of €191.7 million in November 2018, compared to a trade deficit of €150.9 million in the corresponding month of 2017.

Provisional data for international trade show that a trade deficit of €191.7 million was registered in November 2018, compared to a deficit of €150.9 million in the corresponding month of 2017. Both imports and exports decreased by €109.0 million and €149.8 million respectively. The decrease in the value of imports was primarily due to machinery and transport equipment (€112.4 million), while mineral fuels, lubricants and related materials (€77.4 million) and food (€60.3 million) accounted for the main decrease in the value of exports.

 

January-November 2018

During the first eleven months of 2018, the trade deficit increased by €452.5 million when compared to the corresponding period of 2017, reaching €2,787.4 million. Imports increased by €4.7 million while exports decreased by €447.7 million. Higher imports were mainly due to increases in mineral fuels, lubricants and related materials (€169.6 million), chemicals (€54.8 million), and semi-manufactured goods (€42.4 million). These were partly outweighed by a decrease of €290.9 million in machinery and transport equipment. With regards to exports, the main decreases were registered in mineral fuels, lubricants and related materials (€443.7 million) and food (€84.0 million). These were partly outweighed by an increase of €75.4 million in miscellaneous manufactured articles.

Malta’s imports from the European Union reached €3,750.4 million, or 66.8 per cent of total imports. There was an increase of €694.7 million in imports from euro area countries when compared to the same period of 2017. Main increases and decreases in imports were registered from Italy (€180.4 million) and Canada (€189.8 million) respectively. The main increase in exports was directed to Netherlands (€45.1 million), whereas Italy (€50.2 million) registered the highest decrease.

Monique Chambers

Monique started succeed in 2018 and indulge in 2011. She has published two apps; Indulge Me GIFT and Indulge Me FOOD and volume 1 of The Artists Directory - Malta, as well as an audio book, Table 7. A PR and Marketing professional by trade with a Masters in Entrepreneurship, Monique's passion is to promote local talent and Malta in general.

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