Malta registered the sharpest downturn in exports within the EU in the first quarter of the year, according to figures published by the EU’s statistics office yesterday.

Eurostat said Maltese exports between January and March were down 24 per cent. This follows a sharp drop last year.

It reported a drop of €200 million in the value of Maltese exports in the first quarter when compared to last year.

While between January and March 2013, the value of exports amounted to €700 million, this year it stood at €500 million. On the other hand, imports in the same period were similar to last year’s, reaching €1 billion worth of goods.

Apart from Malta, another eight member states experienced a drop in exports.

The largest fall, following Malta’s, was registered by Lithuania (-11 per cent) and neighbouring Estonia (-8 per cent).

On the other hand, the majority of member states increased their exports when compared to last year, with the Czech Republic and Romania both registering an increase of 10 per cent.

On an EU level, the highest increase in exports was registered with China (11 per cent), while imports to the EU increased mainly from South Korea (13 per cent).

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