Malta’s sees trade deficit of €165 million during March 2021

Provisional data noted by the National Statistics Office found a trade in goods deficit of €165.6 million during March 2021, compared to €190.9 million in the same month last year.

Imports amounted to €423 million, representing a decline of €48.5 million, while exports totalled €257.4 million, representing a decline of €23.3 million, over the same period last year.

The decrease in the value of imports was primarily due to Machinery and transport equipment (€103.2 million), partly off set by increases in Chemicals (€25.8 million), Miscellaneous manufactured articles (€15.1 million) and Mineral fuels, lubricants and related materials (€13.9 million). On the exports side, the main drop was registered in Machinery and transport equipment (€50.6 million), which exceeded the rise in Miscellaneous manufactured articles (€17.0 million) and Chemicals (€15.9 million).

Total Trade in Goods: January-March 2021

During the first quarter of the year, the total trade in goods deficit narrowed by €219.7 million when compared to the corresponding period of 2020, reaching €388.7 million.

Both imports and exports decreased by €414.9 million and €195.2 million, respectively, and amounted to €1,145.4 million and €756.7 million. Lower imports were mainly recorded in Machinery and transport equipment (€277.7 million) and Mineral fuels, lubricants and related materials (€117.3 million). On the exports side, Mineral fuels, lubricants and related materials (€131.5 million) and Machinery and transport equipment (€71.2 million) accounted for the main declines/