trade deficit | The Malta Business Weekly https://maltabusinessweekly.com A New Voice for Business in Malta Tue, 17 Sep 2019 06:27:53 +0000 en-GB hourly 1 https://wordpress.org/?v=5.8 https://maltabusinessweekly.com/wp-content/uploads/2020/04/bw-favicon.svg trade deficit | The Malta Business Weekly https://maltabusinessweekly.com 32 32 159130352 Malta’s trade deficit grows further in July 2019 https://maltabusinessweekly.com/maltas-trade-deficit-grows-further-in-july-2019/5771/ https://maltabusinessweekly.com/maltas-trade-deficit-grows-further-in-july-2019/5771/#comments Mon, 09 Sep 2019 15:32:47 +0000 https://maltabusinessweekly.com/?p=5771 Malta's international trade deficit grew to €348.2m in July 2019, from the €211.7m deficit measured in the same month last year. The trade deficit widened by €675m to €2.451b during the first seven months of the year, as compared to the same period a year earlier

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]]> Malta’s international trade deficit grew to €348.2m in July 2019, from the €211.7m deficit measured in the same month last year, according to the most recent provisional figures published by the National Statistics Office (NSO). The trade deficit widened by €675m to €2.451b during the first seven months of the year, as compared to the same period a year earlier

Imports rose by €70.1m while exports declined by €66.4m when compared to the same month of the previous year.

The increase in the value of imports was primarily fuelled by machinery and transport equipment (€45.9m) and mineral fuels, lubricants and related materials (€27.9m).

Exports overall were dragged down by mineral fuels, lubricants and related materials (€78.4m), partly outweighed by an increase of €9.9m in chemicals, according to NSO data.

Deficit widens overall in 2019

During the first seven months of the year, the trade deficit grew further widened by €675m to €2.451b. Imports increased by €648.6m, while exports dropped by €26.4m.

Imports were boosted by the machinery and transport equipment (€706.4m) segment, partly outweighed by a decrease of €70.4m in mineral fuels, lubricants and related materials.

The significant export drop of mineral fuels, lubricants and related materials (€86.9m), was partly outweighed by increases of €38.8m and €30.4m in miscellaneous manufactured articles and chemicals, respectively.

In the first seven months of the year, imports from the European Union dropped by €346.8m to €2.918b — which constitutes the 66.8% of total imports –, as compared to the same period a year earlier.

Main increases and decreases in imports were registered from the United Kingdom (€812.2m) and Italy (€211.0m), respectively. With respect to exports, the main increase was directed to Spain (€30.3m), whereas Egypt (€22.2m) registered the highest decrease, NSO figures show.

EDITORIAL NOTE: Data in this article presents international trade in goods registered up to the 2 September cut-off date. The full report with charts and tables of further data is available on the official website of the NSO.

In line with the NSO’s errata corrige note, the present article has been updated as follows: the figure related to imports/arrivals from euro area has been amended to €346.8m from the erroneous €319.7m.

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]]> https://maltabusinessweekly.com/maltas-trade-deficit-grows-further-in-july-2019/5771/feed/ 1 5771 Malta’s trade deficit shrinks to €182.9m in January https://maltabusinessweekly.com/maltas-trade-deficit-shrinks-to-e182-9m-in-january/1954/ Tue, 12 Mar 2019 15:49:51 +0000 https://maltabusinessweekly.com/?p=1954 Malta recorded a trade deficit of €182.9m during January, according to provisional figures for registered trade in goods, compared to a deficit of €227.4m in the same month a year earlier, the National Statistics Office (NSO) said in its recent release of data. The statistics office says the year-on-year drop was chiefly due to mineral […]

The post Malta’s trade deficit shrinks to €182.9m in January first appeared on The Malta Business Weekly.

]]> Malta recorded a trade deficit of €182.9m during January, according to provisional figures for registered trade in goods, compared to a deficit of €227.4m in the same month a year earlier, the National Statistics Office (NSO) said in its recent release of data.

The statistics office says the year-on-year drop was chiefly due to mineral fuels, lubricants and related materials (€100.2m), partly outweighed by an increase of €40.1m in machinery and transport equipment.

“On the exports side mineral fuels, lubricants and related materials (€29.2m) accounted to the main decrease, partly set off by increases of €16.7m in miscellaneous manufactured articles and €13.3 million in food,” the NSO says in its release.

Imports from the European Union reached 49.6% (€221.8m) of imports in total. Figures reveal a year-on-year decrease of €134.9m in imports from countries in the euro area.

Data in the NSO release presents all international trade in goods registered up to the cut-off date of 5 March.

The full report including charts and visual representation of data is available for download at the website of NSO.

The post Malta’s trade deficit shrinks to €182.9m in January first appeared on The Malta Business Weekly.

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