Trade deficit down by €62.5 million to €178.1 million – NSO
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Preliminary figures show that Malta registered a trade deficit of €178.1 million in November 2015, compared to €240.6 million in the corresponding month of 2014, the National Statistics Office reported today.
Provisional data for international trade show that the trade deficit in November stood at €178.1 million, down by €62.5 million when compared to the corresponding month in 2014. Both imports and exports decreased by €122.2 million and €59.7 million respectively.
The decrease in the value of imports was primarily due to machinery and transport equipment (€64.3 million) and mineral fuels, lubricants and related materials (€46.3 million). Other decreases were recorded for chemicals, miscellaneous manufactured articles, food, and miscellaneous transactions and commodities.
Regarding exports, mineral fuels, lubricants and related materials accounted for the main decrease (€38.8 million), with food, machinery and transport equipment, chemicals, and crude materials also registering decreases.
During the first eleven months, the trade deficit narrowed by €134.1 million, to €2,292.1 million when compared to the corresponding period in 2014. Both imports and exports decreased by €360.2 million and €226.2 million respectively.
Lower imports were mainly due to mineral fuels, lubricants and related materials, which decreased by €809.7 million. This was partly outweighed by an increase of €399.0 million in machinery and transport equipment.
The decrease in the value of exports was triggered by lower mineral fuels, lubricants and related materials (€220.9 million), and machinery and transport equipment (€47.9 million).
Malta's trade imports from the European Union reached €3,253.9 million, or 58.4 per cent of total imports. There was an increase of €296.6 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 Netherlands (€201.8 million) and the United States of America (€317.6 million) respectively. On the export side the main increase was directed to France (€34.0 million), whereas Tunisia (€35.6 million) registered the highest decrease.