Tonio Fenech’s claim that exports up by 54% turn out to be a joke

It turns out that the export statistic is based on the extraordinary and inexplicable statistic which states that the export of fuel in the first eight months was €480 million.

The EIU questioned the export figure and pointed out that the 54% export increase claim is attributable to oil exports from Malta.

The EIU said: “It is unusual that Malta, which is not an oil producer, exported more oil than it imported by almost €80 million in the first half. Data for previous years do not suggest that there had been an accumulation of oil stocks in the previous years."

National Statistic Office stats have traditionally never been held up to scrutiny, and the mere questioning of NSO stats leads to open derision by government. But closer inspection of NSO statistics raises serious questions on the sourcing, collation and origin of these statistics”.

Indeed, a closer look at imports and exports of fuels (see table 1) explains why the EIU was so confused with the assertion that Maltese exports had risen by 54%.

There also notable differences between the Eurostat statistics and the NSO. Indeed, if one were to remove fuels from the export statistics the real growth in exports for this year should read 0.5% (see table 2). For example, the industrial production index for August 2011, NSO shows a reduction of - 0.6% whereas Eurostat shows a reduction of -2.2%.  The average EU index for industrial production stood at 5.8%.

This story first appeared in MaltaToday on Sunday