Malta has registered a sharp drop in exports during January and February, statistics published by Eurostat yesterday show.

In the first two months of 2014, Malta exported 23 per cent less in goods when compared with the same period last year.

Malta’s decrease was the sharpest among the 28 EU member states, amounting to a drop of €100 million over two months.

In the first two months of 2013, Malta exported a total value of €400 million, which fell to €300 million during the same period this year, even though the general economy in the euro area – Malta’s main trading partner – is registering substantial growth.

While two years ago the total value of Maltese exports reached €3.3 billion, last year it fell by 21 per cent to €2.6 billion.

On the other hand, Malta imported a total value of €600 million in goods last January and February, the same as last year.

In 2013, overall imports to Malta fell by 14 per cent.

On an EU level, the majority of member states reported increases in exports and imports, reflecting a growing domestic demand and increased economic activity.

According to Eurostat, during the first two months exports rose most in Croatia (13 per cent) followed by Luxembourg (10 per cent) and the Czech Republic (nine per cent).

Romania saw the highest increase in imports (nine per cent) followed by Portugal and the Czech Republic (both eight per cent).