Malta's trade deficit narrowed by €67.9 million in June to reach €194.5 million, new figures released today show. 

In June of 2016, the country's trade deficit stood at €262.4 million.

National Statistics Office figures however also revealed that the country's trade deficit widened by €114.2 million during the first six months of the year when compared to the same period in 2016, to reach €1,784.8 million.

June figures

National Statistics Office figures revealed that both imports and exports decreased by €166.2 million and €98.3 million respectively. The decrease in the value of
imports was primarily due to machinery and transport equipment (€207.4 million), with an increase of €41.9 million in mineral fuels, lubricants and related materials partly outweighing this.  

The decrease in exports was mainly attributable to chemicals exports (€91.4 million), the NSO said.

January - June

Both imports and exports fell by €329.4 million and €443.6 million respectively over the first six months of the year when compared to the same period of 2016. Lower imports were mainly due to machinery and transport equipment, which decreased by €599.7 million. An increase of €272.2 million in mineral fuels, lubricants and related materials partially counterbalanced this. On

On the exports side, the main decreases were registered in chemicals (€331.0 million) and mineral fuels, lubricants and related materials (€153.6 million).

Malta’s trade imports from the European Union reached €1,642.8 million, or 52.7 per cent of total imports. There was an increase of €80.2 million in imports from euro area countries when compared to the same period of 2016. Main increases and decreases in imports were registered from Italy (€75.8 million) and Canada (€234.3 million) respectively. 

On the export side, the main increase was directed to Switzerland (€8.7 million), with exportation to the United States of America (€321.5 million)
registering the highest decrease.