Malta's trade deficit in January narrowed by €7.9 million compared to the same month last year, according to provisional data published by the National Statistics Office.

The NSO said the trade deficit in January stood at €104.5 million. Both imports and exports decreased by €120.5 million and €112.6 million respectively.

The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials. The same commodity group also accounted for
the main decrease in exports.

Malta’s trade imports from the European Union reached €187 million, or 63.2 per cent of total imports. There was a decrease of €13.9 million in imports from euro area countries when compared to the same period in 2015.

Main increases and decreases in imports were registered from Germany (€4.4 million) and the United States of America (€47.2 million) respectively.

On the export side the main increase was directed to France (€9.1 million),
whereas Egypt (€54.1 million) registered the highest decrease.

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