Malta has reported a huge 22% decrease in total exports and an equally strong 16% drop in total imports for the period January to May as compared to the same period last year.
But while there are other EU member states that have reported higher decreases in total imports, such as Cyprus with a 21% decrease, Malta’s decrease in total exports is the highest in the EU.
Malta exported €1.5 billion worth of goods from January to May last year and it exported €1.1 billion in the same period this year.
It imported €2.1 billion worth of goods from January to May last year and €1.8 billion worth of goods in the same period this year.
When the data is seasonally adjusted, Malta had a 7.2% increase in total exports between this year and the last and a 28.2% increase as to total imports over the same period.
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in June 2013 gave a €17.3 billion surplus, compared with +€12.8 bn in June 2012.
The May 2013 balance was +€14.5 bn, compared with +€6.2 bn in May 2012. In June 2013 compared with May 2013, seasonally adjusted exports rose by 3.0% and imports by 2.5%.
The first estimate for the June 2013 extra-EU27 trade balance was a €9.9 bn surplus, compared with -€1.0 bn in June 2012. In May 2013 the balance was +€15.7 bn, compared with -€5.2 bn in May 2012. In June 2013 compared with May 2013, seasonally adjusted exports remained stable and imports rose by 1.8%.
EU27 imports from most of its major partners fell in January-May 2013 compared with January-May 2012, except for Turkey and India (both +4%). The most notable decreases were recorded for imports from Norway and Japan (both -15%) and Brazil (-13%).
As regards EU27 exports the pattern was mixed. The largest increase was registered for exports to Switzerland (+33%), and the largest fall for exports to India (-4%).
The EU27 trade surplus increased with Switzerland (+€37.7 bn in January-May 2013 compared with +€18.1 bn in January-May 2012), the USA (+€37.4 bn compared with +€33.0 bn) and Turkey (+€12.2 bn compared with +€10.5 bn). The EU27 trade deficit fell with China (-€52.3 bn compared with -€56.8 bn), Russia (-€39.5 bn compared with -€43.1 bn), Norway (-€16.8 bn compared with -€24.8 bn) and Japan (-€1.7 bn compared with -€5.9 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+€81.0 bn in January-May 2013), followed by the Netherlands (+€24.3 bn), Ireland (+€15.3 bn) and Italy (+€8.7 bn). France (-€32.9 bn) registered the largest deficit, followed by the United Kingdom (-€26.1 bn) and Greece (-€8.0 bn).