Malta had a trade deficit of €300.4 million during October, compared to a deficit of €307.2 million in the corresponding month of 2023, data issued on Monday shows.

The National Statistics Office said imports totalled €830.3 million, while exports amounted to €529.8 million, representing increases of €69.5 million and €76.2 million respectively over a year-on-year period.

Higher imports were recorded mainly in machinery and transport equipment (€51.8 million), as well as mineral fuels, lubricants and related materials (€34.4 million).

This was partly offset by decreases in food (€16.5 million).

When it comes to exports, the main increases were registered in food (€34.1 million), and chemicals (€33.6 million).

During the first 10 months of the year, the deficit widened by €388.6 million when compared to the corresponding period of 2023, reaching €4,050.6 million. Imports stood at €8,285.9 million whereas exports reached €4,235.3 million, representing increases of €870.8 million and €482.2 million, respectively. 

Higher imports were mainly recorded in mineral fuels, lubricants and related materials (€588.0 million), and machinery and transport equipment (€323.8 million), partly offset by a decrease in food (€67.7 million). On the exports side, the main increases were registered in mineral fuels, lubricants and related materials (€350.2 million), and chemicals (€79.6 million) (Table 3).

The European Union was the main origin of imports (59.0 per cent), followed by Asia (20.6 per cent). Similarly, exports were mostly sent to the European Union (34.9 per cent) and Asia (12.8 per cent). 

The highest increase in imports was recorded from France (€501.5 million), while imports from Germany registered the largest drop (€239.2 million). Exports to the US registered the highest increase (€143.7 million), while those to Germany experienced the largest decrease (€75.8 million).