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Malta Records Trade Deficit Of €177.4 Million During March

Malta records trade deficit of €177.4 million during March

Malta (PortSEurope) May 13, 2020 – Malta’s National Statistics Office (NSO) has reported that the country recorded a trade deficit of €177.4 million during March this year, compared to a deficit of €738.9 million in the same month of 2019. Both imports and exports registered decreases of €622.5 million and €61.0 million respectively. The decrease was due to machinery and transport equipment (€501.7 million), mineral
fuels, lubricants and related materials on the import and export side (€87.6 million) and (€63.8 million). During the first quarter of this year, the trade deficit narrowed by €660.9 million compared to €627.8 million in the corresponding period last year. Both imports and exports decreased by €688.0 million and €27.1 million respectively. Lower imports were mainly in machinery and transport equipment (€626.3 million) and chemicals (€32.6 million). Decreases in exports were registered in mineral fuels, lubricants and related materials (€56.1 million) and food (€24.7 million). Imports from the European Union reached €714.7 million, 49.1% of total imports. There was a decrease of €15.0 million in imports from euro area countries, compared to 2019. Main increases and decreases in imports were registered from China (€88.9 million) and the United Kingdom (€652.2 million) respectively. With respect to exports, the main increase was directed to Germany (€32.5 million), whereas Italy (€43.1 million) registered the highest decrease. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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