Deficit for registered trade in goods totals €878.6m in July
The deficit for registered trade in goods in Malta totalled €878.6m in July, an increase in deficit compared to the corresponding month of 2021, which was €540.5m, the National Statistics Office revealed.
The report showed that imports amounted to €1,148.8m, while exports totalled €270.1m. This represents an increase of €336.4m in imports and a decline of €1.8m in exports over the same month of 2021.
The rise in the value of imports was due to Mineral fuels, lubricants and related materials which amounted to €156.1m, and Machinery and Transport equipment with a value of €150.2m, the statistic read.
On the exports side, the main decreases were registered in Chemicals (€11.9m), and Miscellaneous manufactured articles (€7.3m), partly offset by increases in Mineral fuels, lubricants and related materials (€13m) and Machinery and transport equipment (€5.9m).
Between the period of January and July, the total trade in goods deficit widened by €995m when compared to the corresponding period of 2021, reaching €2,829.9m.
The NSO statistic also reported that imports and exports increased by €1,310.2m and €315.2m, respectively, amounting to €5,129.4m and €2,299.5m.
Higher imports were mainly recorded in Mineral fuels, lubricants and related materials (€537.9m), Machinery and transport equipment (€431.4m), Food (€115.9m), Semimanufactured goods (€74.4m), Chemicals (€70.5m) and Miscellaneous manufactured articles (€54m).
The exports’ side registered its main increases in Mineral fuels, lubricants and related materials (€189.7m), Machinery and transport equipment (€76.2m), Food (€33.3m) and Semi-manufactured goods (€27.1m).
Goods were imported mainly from the European Union (55.3%) and Asia (17.3%), the statistic said.
Exports were also mostly directed to the European Union (35.6%) and Asia (15.1%).
The main increase and decrease in imports were registered from Italy (€276.8m) and Turkey (€16.5m), respectively. With respect to exports, the main increase was directed to the United Kingdom (€70.2m), whereas Italy reported the highest decrease (€40.7m), the NSO reported.