Malta recorded positive results in the external sector in 2015 with a further narrowing of the trade deficit, as exports net of fuels re-exports increased by €51.2 million in spite of the challenges in some of Malta’s export markets, latest international trade figures show.

Figures released by the National Statistics Office show that during 2015, exports net of fuels and lubricants stood at €2,180.6 million, up from €2,129.4 million in 2014. The increases in the export sector were mainly underpinned by increases in exports of food, miscellaneous manufactured articles and semi-manufactured goods.

During the same period, imports of investment goods increased by €381.4 million. Another increase was reported in imports of consumer goods, which increased by €73.8 million, reflecting increased spending by households.

Finance Minister Edward Scicluna said: “These encouraging figures indicate that, while uncertainty looms over other countries, Malta's competitiveness has stood its ground. Furthermore, the increase in imports of capital goods indicates that local companies are investing more in machinery and equipment, and this implies increased business confidence on the outlook of our economy.”