Cargo containers stacked

During the first half of 2021, Malta’s total trade in goods deficit widened by €21.2 million compared to the same period last year, to reach €1.314 billion, according to new figures released by the National Statistics Office (NSO).

Source: NSO International Trade in Goods: June 2021

This rise came as both imports and exports decreased by significant levels in the half-year, falling by €79.8 million and €101.0 million respectively, to hit €2,832.4 million and €1,518.1 million.

Lower imports were mainly recorded in the Machinery and transport equipment sector, which stood at €71.1 million, whereas on the exports side Mineral fuels, lubricants and related materials sank the furthest to €147.1 million.

Malta’s trade balance was only positive overall in one sector – Miscellaneous manufactured articles – where the country exported goods worth €52 million more than those it imported.

Regarding trade partners, most goods were imported from the EU, which accounted for 53.7 per cent of overall imports, and Asia, which accounted for 18.5 per cent.

Exports were also mostly directed to these regions, with 45.7 per cent of outgoing goods being sent to the EU and 16.2 per cent being sent to Asia.

Malta had a trade surplus with only four markets, according to the figures: Germany (+€41.0 million), Africa (+€115.9 million), Singapore (+€26.2 million), and South America (+€7.1 million).

Regarding June specifically, a total trade in goods deficit of €274.7 million was recorded, compared to a deficit of €242.3 million a year earlier.

Imports amounted to €529.5 million, whereas exports totalled €253.8 million. This represents an increase of €47.5 million and €15.2 million respectively, over the same month a year earlier.

Related

cash money euro

Using euro banknotes for a year ‘equivalent to driving a car for 8km’

December 11, 2023
by Robert Fenech

Environmental impact of banknotes equal to ‘negligible’ 0.01% of average European citizen’s total

KM Malta Airlines says it received over 122,000 bookings in its first week

December 11, 2023
by Helena Grech

It has now launched a website and is also taking bookings through the digital platform

Malta online casinos: A journey through the iGaming universe

December 9, 2023
by BN Writer

The past few years have seen a dramatic increase in the number of online casinos