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Exports go up 46 per cent by August

Date: 13/01/2012

In the first eight months of 2011, Malta exported €600 million worth of goods more than in the same period of 2010, Eurostat data shows. The growth in exports 2011 was the second highest among EU member states and only slightly behind Estonia which registered the biggest growth, according to the EU’s statistical arm. Eurostat said Maltese exports – considered a prime indicator of economic growth – increased by a chunky 46 per cent between January 2011 and August 2011 when compared to the same period of 2010. A total of €1.8 billion worth of products were exported by the island.

With regard to imports, Eurostat said during the same period, Malta imported some €2.5 billion worth of goods, €0.5 million more than during the same period of 2010.

Clearly indicating the bad shape of its economy, Greece was the only member state which registered a drop in imports (-19 per cent) during the first eight months of 2011.

According to the latest European Commission economic forecasts, Malta’s economy is one of the few in the EU which is expected to continue to grow in 2012, although at a lower rate than that registered in 2011. The Commission is estimating exports to grow by a further 3.9 per cent in 2012.

 Source: Times of Malta

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