Malta Exports Rise €200 Million

MEDIA ROOM

It would appear that Malta had the EU’s third largest rise in exports during the first five months of this year, according to statistics published in Brussels. According to the Times of Malta, Malta had the EU’s third largest rise in exports during the first five months of this year.

Eurostat said that between January and May, Malta exported €1.4 billion worth of products, up €2 million on the same period last year, which works out as a 12 per cent increase.

Malta imported €1.9 billion worth of goods, matching the first five months of 2011. It was only Greece and Latvia that registered higher export increases among the 27 member states, at 17 per cent and 14 per cent respectively. Exports from Ireland, Luxembourg and Hungary all fell.

A growth in imports

Growth in imports was subdued due to the eurozone’s ongoing economic crisis on the otherhand.

It is also interesting to note that nine member states reported their imports had fallen, with the largest drops in Greece, at 10 per cent.

Cyprus, often compared to Malta due to its similar size and economy, registered a contraction of almost one per cent in GDP during the second quarter.