Preliminary figures show that Malta registered a trade deficit of €273 million in October, compared to €64.6 million in the same month last year.

The National Statistics Office said that provisional data for international trade showed that the trade deficit in October stood at €273 million, up by €208.4 million when compared to the corresponding month of 2015.

Imports increased by €98.6 million, while exports decreased by €109.8 million. The increase in the value of imports was primarily due to machinery and transport equipment (€89.3 million), while on the exports side mineral fuels, lubricants and related materials (€101.6 million) accounted for the main decrease.

During the first 10 months this year, the trade deficit widened by €375.5 million when compared to the corresponding period last year, reaching €2,590.7 million.

Imports show an increase of €303.1 million, while exports decreased by €72.3 million. Higher imports were mainly due to machinery and transport equipment, which increased by €469.2 million.

The decrease in the value of exports was mainly triggered by mineral fuels, lubricants and related materials, food, and machinery and transport equipment.

Malta’s trade imports from the European Union reached €2,629.7 million, or 47.2 per cent of total imports. There was a decrease of €292 million in imports from euro area countries when compared to the same period last year.

Main increases and decreases in imports were registered from the Caribbean and Bahamas Islands and the Netherlands, respectively. On the export side, the main increase was directed to the United States of America, whereas Africa registered the largest drop.