The Nationalist Party has highlighted that the drop in exports and imports registered in the first half of this year is the steepest drop in the EU, expressing its hope that the government addresses this in the next budget.

In a statement, PN deputy leader and economy spokesman Mario de Marco noted that according to Eurostat, exports in the first six months of 2014 were worth 26% less than in the corresponding period of 2013, while imports fell by 10%. In both cases, the drop was the highest recorded across the EU.

Dr de Marco noted that while recent figures published by the National Statistics Office show that the Maltese economy has continued to grow, the manufacturing sector – which employs some 30,000 people – registered an 11% decline.

He said that exports – particularly to the EU – were an important means through which small and medium enterprises overcome the challenge of a small local market and grow.

However, he added, the same government which found the funds to increase spending on salaries and operational costs by €60 million when compared to the previous year, did not find the means to fund the continuation of schemes which sought to help SMEs export their goods and services.

Dr de Marco said that the decline in international trend was affecting families, noting how a drop in imports reflected a reduction in consumption which was reflected in a reduction in business for local shops.

The PN, he said, hoped that this statistic would serve as a warning to the government, stating that after nearly two years, the government should come up with its economic vision that went beyond economic growth created simply through a growing public sector.