Maltese exports registered an impressive increase in the first four months of this year hinting at a strong economic performance.

According to new data published by Eurostat, Maltese exports grew by 49 per cent between last January and April when compared to the same period of 2010. In the first four months, Malta exported about €1 billion worth of products, an increase of €400 million over 2010. This increase in exports also triggered a strong increase in imports because Malta normally imports almost all its raw materials used in the manufacture of products. Eurostat said Malta imported a total of €1.2 billion worth of products in the first trimester, an increase of 35 per cent over the same period of 2010.

Malta’s export performance so far is the third best among the EU’s 27 member states. Only Estonia (+57 per cent) and Bulgaria (+50 per cent) have managed to perform better.

The data shows the EU economy is growing steadily as all 27 member states increased their exports performance with only Greece, in deep eco-nomic and financial trouble, seeing its imports drop by 22 per cent.

The biggest three economies of the euro area, Germany, France and Italy, have all increased their exports by 17, 12 and 17 per cent respectively.

Source: Times of Malta

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