The trade gap narrowed by €292 million to €28.4 million in October as a spike in the importation of machinery and transport equipment last year was not repeated this year. 

A total decrease of €283.8 million was recorded for imports in October this year, while exports increased by €8.8 million compared to October last year.

The decrease in imports was primarily due to a drop in machinery and transport equipment (€153.3 million) and mineral fuels, lubricants and related materials (€85.7 million).

Other decreases were recorded for all other commodity groups except for crude materials.

With regard to exports, food accounted for the main increase (€17.7 million), with mineral fuels, lubricants and related materials, semi-manufactured goods, beverages and tobacco, and miscellaneous manufactured articles also registering increases.

January-October 2015

During the first 10 months, the trade deficit narrowed by €90.0 million, to €2,095.5 million when compared to the corresponding period last year. Both imports and exports decreased by €261.6 million and €171.6 million respectively.

Lower imports were mainly due to mineral fuels, lubricants and related materials, which decreased by €765.7 million. This was partly outweighed by an increase of €458.5 million in machinery and transport equipment.

The decrease in the value of exports was triggered by lower mineral fuels, lubricants and related materials (€183.8 million), and machinery and transport equipment (€39.7 million).

Malta’s trade imports from the European Union reached €2,973.9 million, or 57.9 per cent of total imports. There was an increase of €241.0 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 Netherlands (€188.5 million) and the United States of America (€277.9 million) respectively. On the export side the main increase was directed to France (€38.8 million), whereas Italy (€42.3 million) registered the highest decrease.