Imports and exports dropped in January when the visible trade gap stood at €122.1 million, up by €20.3 million when compared to the corresponding month last year.
Provisional data for January provided by the National Statistics Office said there was a decrease in imports of €47.1 million and a decrease in exports of €67.4 million.
The decrease in imports was due to industrial supplies, fuel and lubricants and consumer goods. Machinery and transport equipment accounted for the main decrease in exports. Other decreases were also registered in food, chemicals, and miscellaneous manufactured articles.
The deterioration in the balance for January when compared to the same month last year was mainly due to machinery and transport equipment.
The bulk of Malta’s trade flows and consequent trade deficit continued to be directed towards the European Union.