Preliminary figures show that Malta registered a trade deficit of €558.0 million in February 2016, up by €175.6 million when compared to the corresponding month in 2015, which stood at €382.4 million, the National Statistics Office said today.

Imports increased by €122.3 million, while exports decreased by €53.3 million. The increase in the value of imports was primarily due to machinery and transport equipment (€163.4 million). On the exports side, mineral fuels, lubricants and related materials accounted for the main decrease (€39.8 million).

During the first two months this year, the trade deficit widened by €168.9 million when compared to the corresponding period last year. Imports show an increase of €6.2 million, with exports decreasing by €162.7 million.

Higher imports were mainly due to machinery and transport equipment, which increased by €151.8 million. This was partly outweighed by a decrease of €160.7 million in mineral fuels, lubricants and related materials. The decrease in the value of exports was triggered by lower mineral fuels, lubricants and related materials (€139.5 million).

Malta's trade imports from the European Union reached €406.2 million, or 38.8 per cent of total imports. There was a decrease of €43.5 million in imports from euro area countries when compared to the same period last year.

Main increases and decreases in imports were registered from Germany (€21.0 million) and the United States of America (€54.7 million) respectively. On the export side the main increase was directed to Italy (€12.0 million), whereas China (€17.4 million) registered the highest decrease.

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