Exports down by €49.3m in October

Exports dropped by €49.3 million in October, the NSO said today. Imports were down by €48.7 million.

The visible trade gap widened by €0.6 million to €89 million compared to the corresponding month last year.

The National Statistics Office said the decrease in imports was mainly due to industrial supplies, capital goods and others and consumer goods. Food and machinery and transport equipment accounted for the main decline in exports.

During the first 10 months this year, the visible trade gap narrowed by €186.9 million, to stand at €997 million. This came about because of a decrease of €579.2 million in imports and a decrease of €392.2 million in exports.

Decreases were also registered in the importation of machinery and transport equipment, food, miscellaneous manufactured articles, and semi-manufactured goods.

During this period the drop in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles, food, semi-manufactured goods and chemicals.

The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union during the first 10 months this year.