Preliminary figures show that Malta registered a trade deficit of €178.0 million in March 2016, down by €66.0 million on the corresponding month of 2015, when it stood at 244.0 million, the National Statistics Office said today.
Both imports and exports increased by €6.9 million and €73.1 million respectively. The increase in the value of imports was primarily due to machinery and transport equipment (€62.6 million). On the exports side, chemicals accounted for the main increase (€146.6 million).
During the first three months this year, the trade deficit widened by €171.6 million when compared to the corresponding period last year. Imports show an increase of €89.5 million, with exports decreasing by €82.0 million.
Higher imports were mainly due to machinery and transport equipment, which increased by €284.0 million. This was partly outweighed by a decrease of €185.3 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 (€197.5 million). This was partly outweighed by an increase of €142.3 million in chemicals.
Malta's trade imports from the European Union reached €645.7 million, or 38.5 per cent of total imports. There was a decrease of €55.9 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 (€36.0 million) and Canada (€103.2 million) respectively. On the export side the main increase was directed to the United States of America (€157.0 million), whereas Egypt (€78.8 million) registered the highest decrease.e