April’s trade deficit stood at €109.3m, down €180.5m on 2013

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April's trade deficit stood at €109.3m, down €180.5m on 2013Preliminary figures show that Malta registered a trade deficit of €109.3 million in April, compared to €289.8 million in the corresponding month last year, the National Statistics Office said today.

Provisional data for international trade show that the trade deficit in April stood at €109.3 million, down by €180.5 million when compared to the corresponding month in 2013. There were decreases in both imports and exports of €225.1 million and €44.5 million respectively).

The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials, with other declines registered in all other sectors except for beverages and tobacco, and animal and vegetable oils and fats. Mineral fuels, lubricants and related materials also accounted for the main decrease in the value of exports when compared to the corresponding month last year.

Other drops were registered for machinery and transport equipment, miscellaneous manufactured articles, semi-manufactured goods, food, crude materials, and miscellaneous transactions and commodities.

In the first four months this year, the trade deficit narrowed by €113.3 million, to €461.0 million. Both imports and exports registered decreases when compared to the period January-April 2013.

The decrease in imports of €226.6 million was mainly due to machinery and transport equipment, with other significant decreases being registered for mineral fuels, lubricants and related materials, food, and miscellaneous manufactured articles.

The decrease in the value of exports of €113.4 million was primarily due to machinery and transport equipment. Other major decreases were noted for mineral fuels, lubricants and related materials, miscellaneous manufactured articles, and food.

Malta’s trade imports from the European Union reached €866.5 million, or 50.6 per cent of the total imports for the period under review.

There was a drop of €216.0 million in imports from euro area countries when compared to the same period last year. Increases were registered in imports from the United States of America, Belarus, Spain, Belgium and India.

On the other hand, imports from Israel, Italy, Libya, the Netherlands, France, Singapore, Germany, the Republic of Korea, China, Switzerland and the United Kingdom showed a decrease. Exports to the euro area decreased by €33.0 million, mainly to France, the Netherlands, Germany, Spain and Belgium, while increases were recorded to Italy, the United States of America, Belarus and the Republic of Korea.

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