Malta Chamber, Ministry for Research, Innovation / DOI Photo

Provisional figures for registered trade in Malta recorded a trade deficit of €84.2 million during October 2020, compared to a deficit of €311.1 million in the corresponding month of 2019.

International Trade in Goods: October 2020

Data in the National Statistics Office’s latest release presents all international trade in goods registered up to a cut-off date of 1st December, with both imports and exports registering a decrease of €308.6 million and €81.7 million, respectively, when compared to the same month last year.

The major decreases in the value of imports were recorded for machinery and transport equipment (€157.6 million) and mineral fuels, lubricants and related materials (€64.1 million).

On the exports side, the main decrease was registered in mineral fuels, lubricants and related materials (€49.2 million).

January-October 2020

During the first ten months of this year, the trade deficit narrowed by €1,529.1 million when compared to the corresponding period of 2019, reaching €1,974.0 million.

Both imports and exports decreased by €1,993.5 million and €464.4 million, respectively.

Lower imports were mainly recorded in machinery and transport equipment (€1,296.4 million) and mineral fuels, lubricants and related materials (€512.7 million).

On the exports side, mineral fuels, lubricants and related materials (€339.0 million) and machinery and transport equipment (€100.1 million) accounted for the main decreases.

Imports from the European Union reached €2,321.3 million, or 51.9 per cent of total imports.

There was a decrease of €438.9 million in imports from euro area countries when compared to the same period in 2019.

Main increases and decreases in imports were registered from China (€108.2 million) and the United Kingdom (€986.6 million), respectively.

With respect to exports, the main increase was directed to Hong Kong (€13.3 million), whereas Italy registered the highest decrease (€139.0 million).

Related

Spinola Malta

Driving deficit down through increased tax compliance & economic activity ‘a formidable challenge’

October 12, 2021
by Solomon Cefai

Philip von Brockdorff weighs in on how the Budget aims to reduce Malta's troubling deficit

Start-up visas, seed funds & lower taxes on business inheritance: Budget measures for the business community

October 11, 2021
by Helena Grech

Here’s a look at Budget 2022 measures aimed at spurring investment

WATCH: Finance Minister Clyde Caruana unveils Budget 2022 in Parliament

October 11, 2021
by Helena Grech

Increase in grants for electric vehicles, measures to support the labour market and no new taxes expected