Exports up €24m in January

Exports increased by €24.6 million in January, compared to January last year, while imports were down by €54.2 million, according to NSO figures released yesterday.

The decrease in imports was primarily due to capital goods, in particular aircraft parts.

Machinery and transport equipment, and food, particularly fish, accounted for the main increase in exports. Other increases were also registered in mineral fuels, lubricants and related materials, semi-manufactured goods and crude materials.

The bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the European Union during the first month this year. Drops were registered in imports from Germany, France and UK, while increases were recorded from Italy and Netherlands. Exports to the eurozone were down, but increases were recorded to Singapore, Japan and the United States.

The visible trade gap in January stood at €46.1 million, down by €78.8 million when compared to the corresponding month last year.