Trade deficit up by €70.6 million to €202.3 million in March – NSO
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Preliminary figures show that Malta registered a trade deficit of €202.3 million in March, up by €70.6 million in the corresponding month in 2014, the National Statistics Office said today.
Imports registered an increase of €29.0 million while exports decreased by €41.6 million. The increase in the value of imports was primarily due to machinery and transport equipment (€103.9 million).
Other increases were recorded for food, miscellaneous transactions and commodities, and beverages and tobacco. Mineral fuels, lubricants and related materials accounted for the main decrease in the value of exports (€35.2 million).
Other decreases were registered for machinery and transport equipment, beverages and tobacco, and miscellaneous transactions and commodities.
During the first three months this year, the trade deficit widened by €300.7 million, to €675.0 million when compared to the corresponding period last year. Imports increased by €168.4 million, while exports registered a decrease of €132.3 million.
The increase in imports was mainly due to machinery and transport equipment (€300.0 million), while the decrease in the value of exports was primarily due to mineral fuels, lubricants and related materials (€126.4 million) and machinery and transport equipment (€35.2 million).
Malta’s trade imports from the European Union reached €693.5 million, or 45.7 per cent of total imports. There was a drop of €36.2 million in imports from euro area countries when compared to the same period last year.
Main increases and decreases in imports were registered from Canada (€292.8 million) and Italy (€29.9 million) respectively. On the export side the main increase was directed to the United Kingdom (€26.5 million), with Italy(€35.0 million) registering the highest decrease.