Preliminary figures show that Malta registered a trade deficit of €151.8 million in December 2016, down by €21.3 million when compared to the corresponding month of 2015 when it stood at €173.1 million, the National Statistics Office said today.

Imports decreased by €15.8 million, while exports increased by €5.5 million. The decrease in the value of imports was primarily due to machinery and transport equipment (€48.7 million). This was partly outweighed by an increase in mineral fuels, lubricants and related materials (€43.7 million).

On the exports side, mineral fuels, lubricants and related materials (€3.5 million) and food (€1.4 million) were the main items accounting for the increase.

During 2016, the trade deficit widened by €207.4 million when compared to 2015, reaching €2,794.3 million. Both imports and exports show increases of €324.8 million and €117.4 million respectively. Higher imports were mainly due to machinery and transport equipment, which increased by €431.5 million.

This was partly outweighed by decreases in chemicals (€48.1 million) and semi-manufactured goods (€46.0 million). The increase in the value of exports was mainly triggered by chemicals (€558.3 million), while mineral fuels, lubricants and related materials decreased by €430.9 million.

Malta’s trade imports from the European Union reached €3,183.8 million, or 49.4 per cent of total imports. There was a decrease of €276.4 million in imports from euro area countries when compared to the same period of 2015.

The main changes in imports were registered from Canada (+€259.9 million) and the Netherlands (-€211.2 million). On the export side, the main increase was directed to the United States of America (€605.3 million), whereas Hong Kong (€53.1 million) registered the highest decrease.

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