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.
The positive performance in the export sector was mainly underpinned by increases in exports of miscellaneous manufactured articles, food and semi-manufactured goods.
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, among others, reducing industries’ utility costs and implementing pro-business policies, are bearing fruit.”
(Source: Press release by the Ministry for Finance)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.