Malta had an international trade deficit of €303.2 million in October 2018, compared to €175.5 million in the corresponding month of 2017, the NSO said on Monday.

Imports increased by €7.3 million, while exports decreased by €120.5 million.

The increase in imports was primarily due to mineral fuels, lubricants and related materials (€105.3 million), partly outweighed by a decrease of €109.6 million in machinery and transport equipment.

On the exports side, mineral fuels, lubricants and related materials (€106.1 million) accounted for the main decrease in the value of exports, partly outweighed by an increase of €15.2 million in miscellaneous manufactured articles.

January-October 2018

During the first 10 months of this year, the trade deficit increased by €422.8 million when compared to the corresponding period of 2017, reaching €2,606.7 million.

Imports increased by €95.5 million while exports decreased by €327.4 million. Higher imports were mainly due to increases in mineral fuels, lubricants and related materials (€158.0 million), chemicals (€52.5 million), and semi-manufactured goods (€40.2 million). These were partly outweighed by a decrease of €183.0 million in machinery and transport equipment.

With regard to exports, the main decrease was registered in mineral fuels, lubricants and related materials (€391.2 million), partly outweighed by increases of €65.6 million in miscellaneous manufactured articles and €22.0 million in semi-manufactured goods.

Malta’s trade imports from the European Union reached €3,485.6 million, or 67.6 per cent of total imports. There was an increase of €735.3 million in imports from euro area countries when compared to the same period of 2017.

The main increases and decreases in imports were registered from Italy (€198.3 million) and Canada (€145.8 million) respectively. The main increase in exports was directed to Netherlands (€39.3 million), whereas Italy (€34.5 million) registered the highest decrease.