International Trade: August 2017
Provisional data for international trade published by the National Statistics Office (NSO) shows that the trade deficit in August stood at €176.7 million, down by €50.1 million when compared to the corresponding month of 2016. Both imports and exports decreased by €110.9 million and €60.8 million. The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials (€92.8 million), while a decline of €59.9 million in the same commodity group, accounted for the main decrease in exports.
During the first eight months this year, the trade deficit widened by €215.7 million when compared to the corresponding period of 2016, reaching €2,281.0 million. Both imports and exports show decreases of €581.1 million and €796.8 million respectively. Lower imports were mainly due to machinery and transport equipment, which decreased by €731.4 million. This was partly outweighed by an increase of €129.9 million in mineral fuels, lubricants and related materials. On the exports side, the main decreases were registered in chemicals (€594.9 million) and mineral fuels, lubricants and related materials (€231.5 million).
Malta’s trade imports from the European Union reached €2,156.9 million, or 53.4 per cent of total imports. There was a decrease of €34.1 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 United Kingdom (€59.5 million) and Canada (€304.3 million) respectively. On the export side, the main increase was directed to Switzerland (€9.2 million), whereas the United States of America (€591.7 million) registered the highest decrease.