Private consumption ballooned between 2014 and 2016, but as people spent more money, less went to books, newspapers and magazines.

According to the National Statistics Office, overall spending increased by 10 per cent in the period reviewed, but on p­­­­­rinted material, it dropped by 18 per cent.

The figures come from a table that formed part of a news release last Monday that focused on book lending from public libraries.

While book loans from public libraries registered almost a nine per cent increase in 2016 over 2015, not the same can be said of purchases.

Private spending was €5.1 billion in 2014, with €48 million spent on books, newspapers and magazines.

The portion of expenditure on printed material stood at 0.94 per cent of all product consumption. The amount spent on printed material dropped to €45 million in 2015, which accounted for 0.8 per cent of all private expenditure.

Roll forward to 2016 and private expenditure rose to €5.6 billion on the back of above-average economic growth. But this was not reflected in higher spending on books.

In 2016, the Maltese spent €39 million on the printed word, which constituted 0.7 per cent of all their private consumption.

The importation of books also declined, with the value of imports dropping to €8 million last year from €10 million in 2014. On the flipside, imported magazines registered an increase to €9 million from €5 million in the same period.

The value of book exports in 2016 dropped below 2014 levels to reach €6 million, the NSO figures showed.

Spending on the printed word

  2014 2015 2016
Books €28m €26.8m €22.9m
Newspapers/magazines €15.3m €14.8m €13.4m
Other printed material* €4.7m €3.6m €3.2m

*Includes advertising material, posters, greeting cards, maps and globes

Source: NSO

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