PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE: Further increases in local exports

The Ministry for Finance welcomes the latest international trade news release published today by the NSO, which shows a remarkable increase of Euros 484.3 million in Malta’s exports net of fuels for the first three quarters of this year.

During the period January to September 2016, exports net of fuels increased to Euros 2,079.2 million from Euros 1,594.9 million a year earlier. The highest increase was recorded in the chemical sector where exports of chemicals rose by Euros 559.1 million, mostly reflecting exports of pharmaceuticals. Other notable increases were recorded in the exports of semi-manufactured goods and exports of beverages and tobacco.

An increase in imports was also recorded, with the highest increase being in machinery and transport equipment which rose by Euros 359.1 million. This mostly reflected imports by the maritime and aviation industries, reflecting the investment in these two respective sectors.

Minister for Finance Edward Scicluna said that: “These figures further confirm that Malta’s manufacturing sector is doing fairly well, despite operating within a negative international outlook.”

Source: Government of Malta.