International Trade figures issued today by the NSO show that local exports, net of fuel re-exports, recorded an increase of €14.4 million during the first half of this year.

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

This positive export performance was underpinned by increases in several export categories ranging from export of foods and pharmaceutical products to plastic, steel, paper products as well as machinery and mechanical appliances, vehicles and parts, cinematographic instruments and other miscellaneous manufactured articles.

The increase in exports coupled with the decrease in imports resulted in a narrowing of the trade deficit in June where the trade deficit net of fuels and lubricants decreased by €9.4 million, when compared to the corresponding month of last year.

Minister for Finance, Edward Scicluna, remarked: “The positive performance in the external sector reflects the increase in local industries’ competitiveness underpinned by reduced production costs especially energy costs, and an environment conducive of investment.”

The figures also confirm an increase in imports of investment goods, amounting to over €672 million for the first half of this year. This reflects the persistent increase in investment which has raised and sustained Malta’s economic growth in the recent years.

Thursday, 06 August 2015