Edward Scicluna

Trade figures point towards a further narrowing of deficit

Latest international trade figures published by NSO show that during the period January to November of last year, Malta continued to register positive results in the external sector with a further narrowing of the trade deficit, as exports net of fuels re-exports increased by €16.1 million.

 

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The positive performance in the export sector was mainly underpinned by increases in exports of miscellaneous manufactured articles, food and semi-manufactured goods.

 

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

On the import side, during the first eleven months of last year, imports of investment goods increased by €392.9 million. This increase upholds the view that investment activity is continuing to sustain Malta’s economic growth. Another notable increase was reported in imports of consumer goods which increased by €62.3 million during the same period, reflecting increased consumer expenditures leading to an improvement in the standard of living of the population.

Finance Minister Edward Scicluna notes: “The affirmative performance in the external sector shows that Government’s efforts directed towards increasing local industries’ competitiveness by, amongst others, reducing industries’ utility costs and implementing pro-business policies, are bearing fruit.”

 

– Monday 11th January, 2016

 

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