International Trade: July 2017
According to provisional data for international trade published by the National Statistics Office (NSO) show that the trade deficit in July stood at €272.1 million, up by €103.2 million when compared to the corresponding month of 2016. Both imports and exports decreased by €190.6 million and €293.8 million. The decrease in the value of imports was primarily due to machinery and transport equipment (€159.7 million) and mineral fuels, lubricants and related materials (€49.3 million). On the exports side, chemicals (€259.3 million) accounted for the main decrease.
During the first seven months this year, the trade deficit widened by €241.0 million when compared to the corresponding period of 2016, reaching €2,080.6 million. Both imports and exports show decreases of €495.9 million and €736.9 million respectively. Lower imports were mainly due to machinery and transport equipment, which decreased by €752.9 million. This was partly outweighed by an increase of €222.8 million in mineral fuels, lubricants and related materials. On the exports side, the main decreases were registered in chemicals (€590.0 million) and mineral fuels, lubricants and related materials (€171.6 million).
Malta’s trade imports from the European Union reached €1,913.1 million, or 52.6 per cent of total imports. There was an increase of €24.8 million in imports from euro area countries when compared to the same period of 2016. Main increases and decreases in imports were registered from the Russian Federation (€127.1 million) and Canada (€347.7 million) respectively. On the export side, the main increase was directed to Switzerland (€8.5 million), whereas the United States of America (€589.1 million) registered the highest decrease.