According to a Eurostat publication issued yesterday, retail sales in Malta dropped in volume by almost Latvian levels.

Latvia, of course, is the country in the EU that has most been affected by the international recession crisis.

Besides, Malta is the worst hit country in the EU when one considers that given 2005 as being 100, Malta’s retail sales is 89.4. No other country in the EU goes worse than that. Latvia itself is 96.4.

Malta’s best quarter was Q3 of 2007. The difference between this high and the Q2 2009, the latest, is -21.9. Latvia only is worse, at -31.0 while even Lithuania at -21.6 and Estonia at -19.6 are better than Malta.

Obviously, given the international recession, no country in the EU is positive, but the EU 27 average is at -2.5 and the euro area is at -3.1 – a far cry from a -21.9.