Malta's trade deficit widened by more than €100 million in July when compared to the same month last year, new figures released today show. 

The country's trade deficit stood at €272.1 million in that month when compared to the €168.9 million figure registered in July 2016, data released by the National Statistics Office revealed. 

When comparing the first seven months of the year to the corresponding period of 2016, the trade deficit widened by a larger amount - €241 million - to reach €2,080.6 million. 

Imports and exports

Both imports and exports declined in July, by €190.6m and €293.8m respectively. Imports were mainly down due to a large €159.7m drop in machinery and transport equipment, with a further €49.3m reduction in imports of mineral fuels, lubricants and related materials. Exports were mainly down due to a €259.3m drop in exports of chemicals. 

Imports and exports were also down when comparing the first seven months of the year, with imports down by €495.9m and exports by €736.9m respectively when compared to the January to July period of 2016. 

Lower imports were mainly due to machinery and transport equipment, which decreased by €752.9 million. This was partly outweighed by an increase of €222.8 million in mineral fuels, lubricants and related materials. On

On the exports side, the main decreases were registered in chemicals (€590m) and mineral fuels, lubricants and related materials (€171.6m).

Trade with the EU

Malta’s trade imports from the European Union reached €1,913.1m, or 52.6 per cent of total imports. There was an increase of €24.8 million in imports from euro area countries when compared to the same period of 2016. Main increases and decreases in imports were registered from the Russian Federation (€127.1m) and Canada (€347.7m) respectively.

On the export side, the main increase was directed to Switzerland (€8.5m), whereas the USA (€589.1m) registered the highest decrease.