Malta export percentage drop highest in Europe

Malta’s total export sales in the first seven months this year fell from €1.7 billion to €1.2 billion when compared to the same seven-month period last year, Eurostat figures show. This is a growth decrease of -27% in the space of a year, the highest percentage decrease out of all the 28 EU member states. Second was the United Kingdom, with exports decreasing by -12% and third was Cyprus with -6%. On the other hand, exports in 14 EU member states increased, particularly in Croatia who registered an export growth of 10%.

Earlier Eurostat figures showed that Malta’s exports dropped by 26% during the first six months of the year when compared to the same period last year.

Malta’s imports also dropped by €0.2 billion to €2.6 billion between January and July of 2014 when compared with the same period last year, meaning that Malta’s trade balance decreased by €0.1 billion to -€1.3 billion.