Malta’s exports fell more than in any other EU member state earlier this year, according to data published in Brussels yesterday.

Between January and August, exports fell 20 per cent, said the EU’s statistics arm Eurostat.

Although there was no government explanation, re-exports of oil products could be the reason as NSO statistics for that period show Maltese exports fell by €407 million primarily due to mineral fuels, lubricants and related materials.

Machinery and transport equipment, semi-manufactured goods, beverages and tobacco all dropped.

On the other hand, imports also fell 17 per cent, by €508 million, during the first eight months compared with 2012 – the second-biggest decrease in the EU.

Between January and August, Malta exported €1.8 billion worth of products and imported €3 billion. Due to lower trade, Malta’s trade gap fell by €100 million to €1.3 billion.

On an EU level, biggest economies Germany and France suffered a respective one and two per cent drop in that period.

The UK increased its exports by 13 per cent and Spain and Greece – still reeling from a major economic crisis – managed a rise of five per cent each, while Italy’s exports were one per cent down.

Cyprus registered the biggest drop in imports between January and August, importing 20 per cent less products compared with the same period in 2012.