Imports and exports are significantly down this year, according to trade data published by Eurostat yesterday.

Malta registered the EU’s highest decline in exports between January and September and saw the second-highest drop in imports after Cyprus.

It exported €2 billion worth of products, €0.5 billion less than in the same period of 2012, the EU’s statistics arm said.

The decline in imports amounted to €700,000, down to €3.4 billion, or 15 per cent less than last year.

Although the data signifies lower trade, it does not necessarily imply a downturn of the Maltese economy, as Maltese trade data normally includes transactions in oil for bunkering reasons that vary significantly according to the international market.

The Eurostat figures are not broken down into sectors.

At the same time, the importation statistics could indicate lower consumption sentiment.

Exports were down in 13 EU member states during the nine-month period, including in Germany (one per cent) and France (two per cent).

Cyprus and Lithuania, on the other hand, registered the highest growth, both at 10 per cent.

Importation growth was low across the continent, with Lithuania (10 per cent) registering the highest increase, followed by Denmark (three per cent).