Labour spokesman Gavin Gulia yesterday criticised the government for failing to react to disappointing export figures, saying they showed the economy is not as resilient as it is made out to be.

The most recent National Statistics Office figures show that the value of exports declined by €25.2 million in August compared to the same month last year.

When considering that the value of exports also dropped by €35.1 million last July, the total drop was of €60.3 million in two months, Dr Gulia said.

In eight months, the value of exports fell by 10 per cent.

Moreover, the value of imports fell by €16.9 million in August compared to the same month last year. And, in continuation of the July trend, the importation of consumables fell by six per cent. This indicates that consumption by families has gone down because of the rise in prices, Dr Gulia noted.

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