The Malta Independent 17 July 2024, Wednesday
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Importation on the rise while exportation going down in Malta as of April 2024 – NSO

Thursday, 13 June 2024, 15:47 Last update: about 2 months ago

The NSO said Thursday that in April 2024, Malta registered a trade deficit of €332.4 million, compared to a deficit of €493.4 million in the corresponding month of 2023. It said that imports amounted to €661.6 million, while exports totalled €329.2 million which represents a decline of €152.0 million in imports and an increase of €9.0 million in exports over the same month of the previous year.

The NSO said that the main decrease in imports was primarily due to Machinery and transport equipment (€143.3 million) whilst on the exports side, the main increase was registered in Miscellaneous manufactured articles (€19.0 million), partly offset by a decrease in Machinery and transport equipment (€8.0 million).

During April 2024, a decrease of €152.0 million in imports was recorded, the NSO found, whilst exports increased by €9.0 million, over the same month of the previous year. It said that during the first four months of the year, the deficit narrowed by €52.7 million when compared to the corresponding period of 2023, reaching €1,179.1 million. It said that imports stood at €2,666.7 million whereas exports reached €1,487.6 million, thus representing increases of €25.0 million and €77.7 million, respectively.

Higher imports were mainly recorded in Mineral fuels, lubricants and related materials (€100.2 million), and Chemicals (€35.0 million), partly offset by decreases in Machinery and transport equipment (€63.7 million), and Semi-manufactured goods (€58.3 million), the NSO found. On the other hand it said that, for exports, the main increases were registered in Machinery and transport equipment (€100.4 million), and Mineral fuels, lubricants and related materials (€29.4 million), partly offset by decreases in Miscellaneous manufactured articles (€24.8 million), and Food (€23.7 million).

As to the origin and destination of the imported/exported goods, it was found that they were imported mainly from the European Union (57.4%) and Asia (22.4%), while exports were mostly directed to the European Union (34.5%) and North and Central America (12.7%). It also found that the highest increase in imports was recorded from Italy (€89.3 million), while imports from the United Kingdom registered the largest drop (€66.2 million), furthermore, exports to the United States of America registered the highest increase (€138.0 million), while those to Germany experienced the largest decrease (€14.8 million)

The NSO found that in the first four months of 2024, Malta’s trade imports from the European Union reached €1,531.0 million (57.4% of total imports). Indeed, it said that during January-April 2024, the main increase in imports was from Italy (€89.3 million) and the main decrease was from the United Kingdom (€66.2 million).

On the flipside, the NSO found that in the first four months of 2024, the main increase in exports was recorded from the United States of America (€138.0 million) and main decrease was from Germany (€14.8 million).

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