Malta's trade deficit in August narrowed to a five-month low

⑴ Malta’s trade deficit narrowed to €296 million in August, down from €372 million in the same period last year, marking the lowest deficit since March. ⑵ Exports in August rose 19.0% year-on-year to €481.4 million, with food exports up 20.7% and raw materials exports up 111.1%. ⑶ Exports of mineral fuels, lubricants and related materials increased by 43.7%, while exports of machinery and transport equipment rose by 26.8%. ⑷ Imports in August edged up 0.1% to €777.1 million, mainly driven by a 43.9% increase in imports of mineral fuels, lubricants and related materials and a 12.2% rise in imports of miscellaneous manufactured articles. ⑸ Food imports fell by 15.0%, imports of animal and vegetable oils and fats dropped by 33.3%, and chemical imports declined by 32.7%, partially offsetting the overall increase in imports. ⑹ From January to August, Malta’s trade deficit was €2.838 billion, compared with €3.462 billion in the same period last year.