Exports continue to boost economy

Malta has increased its exports by €200 million during the first eight months of this year according to new trade statistics issued in Brussels yesterday.

According to Eurostat, Malta has managed to increase its exports by 16 per cent between January and August last year over the same period in 2009. Maltese products exported from Malta up to August this year reached a value of €1.2 billion.

On the other hand, local consumption seems to be at the same levels of 2009 as imports have remained static over the same period.

Eurostat data shows that Malta registered a static growth in imports during the first eight months of the year, importing a total €2 billion worth of products, exactly the same as between January and August 2009.

All EU member states except Luxembourg have registered an increase in exports during the first eight months of 2010. The figures confirm the growing confidence in the EU's economy following the recession. Germany, the EU's biggest economy registered an increase of 18 per cent.