Malta’s external trade last year was significantly down when compared to 2012, according to new statistics published in Brussels yesterday.
Eurostat said that Malta suffered the biggest drop in exports in 2013 when compared to the other 27 EU member states and the second largest drop in imports.
According to the data published by the EU’s statistics office, last year Malta exported €2.6 billion worth of products, a drop of €700 million or 21 per cent when compared to the previous 12 months.
On the other hand, Malta also suffered a significant drop in imports of €700 million, with €4.4 billion worth last year.
The majority of member states registered an increase in exports with the highest registered by the UK and Romania, up 11 and 10 per cent respectively.
Luxembourg suffered the biggest drop in exports after Malta, down 13 per cent.
On the import side, the majority of member states, 17, registered a decline, with the highest drop in Cyprus (-17 per cent) followed by Malta.
Lithuania registered the highest increase in imports over 2012, up seven per cent.