External trade deficit widens in first four months

Malta's exports fell as imports grew in the first four months of the year when compared to the same period last year, according to figures published by Eurostat in Brussels yesterday.

As a result, there was a slight increase in the island's external trade deficit.

Eurostat said that between January and April, Malta exported a total value of €0.6 billion (-3 per cent on 2007) and imported €1.1 billion (+ 8 per cent on 2007) in value.

Thus, the external trade deficit reached €0.4 billion in the first trimester, up from €0.3 billion in the same period last year.

When considering the total trade of all EU member states, the largest surplus was in Germany (+€69.1 billion in January-April 2008) followed by the Netherlands (+€15.2 billion).

The United Kingdom (-€44.6 billion) registered the largest deficit followed by Spain (-€34.3 billion), France (-€19.5 billion) and Greece (-€11.9 billion).