Malta's trade deficit widened in March compared to the same month last year as imports grew and exports dropped.

The NSO said the deficit grew from €131.7 million to €202.3 million.

Imports increased by €29 while exports decreased by €41.6 million.

The value of imports was up primarily due to machinery and transport equipment (€103.9 million). Other increases were recorded for food, miscellaneous transactions and commodities, and beverages and tobacco.

Mineral fuels, lubricants and related materials accounted for the main decrease in the value of exports (€35.2 million). Other decreases were registered for machinery and transport equipment, beverages and tobacco, and miscellaneous transactions and commodities.

January-March 2015

During the first three months this year, the trade deficit widened by €300.7 million, to €675.0 million when compared to the corresponding period last year. Imports increased by €168.4 million, while exports registered a decrease of €132.3 million.

The increase in imports was mainly due to machinery and transport equipment (€300 million), while the decrease in the value of exports was primarily due to mineral fuels, lubricants and related materials (€126.4 million) and machinery and transport equipment (€35.2 million).

Malta’s trade imports from the European Union reached €693.5 million, or 45.7 per cent of total imports. There was a drop of €36.2 million in imports from euro area countries when compared to the same period last year. Main increases and decreases in imports were registered from Canada (€292.8 million) and Italy (€29.9 million) respectively. On the export side the main increase was directed to the United Kingdom (€26.5 million), with Italy(€35 million) registering the highest decrease.