During the first eleven months of 2020, Malta’s trade deficit narrowed by €1,578.4 million when compared to the corresponding period of 2019, reaching €2,003.6 million.
In addition, a National Statistics Office report found that Malta recorded a trade deficit of €38.4 million during November 2020, compared to a deficit of €93.9 million in the corresponding month of 2019.
International Trade in Goods: January-November 2020
During the period under review, imports and exports decreased by €2,103.2 million and €525.0 million respectively.
Lower imports were mainly recorded in machinery and transport equipment (€1,290.1 million) and mineral fuels, lubricants and related materials (€592.4 million).
On the exports side, mineral fuels, lubricants and related materials (€403.4 million) and machinery and transport equipment (€88.9 million) accounted for the main decreases.
Imports from the European Union reached €2,559.9 million, or 52.7 per cent of total imports.
There was a decrease of €514.0 million in imports from euro area countries when compared to the same period in 2019.
The main increase and decrease in imports were registered from China (€103.1 million) and the United Kingdom (€977.0 million) respectively.
With respect to exports, the main increase was directed to India (€5.4 million), whereas Italy registered the highest decrease (€129.4 million)
International Trade in Goods: November 2020
During the period under review, both imports and exports registered decreases of €130.4 million and €75.0 million respectively when compared to the same month of 2019.
The major decreases in the value of imports were recorded for mineral fuels, lubricants and related materials (€79.7 million) and food (€32.0 million).
On the exports side, the main decrease was registered in mineral fuels, lubricants and related materials (€54.1 million).
The company said it is consolidating its operations in the European market in Poland
EU Directive on Pay Transparency is set to be approved by the EU Parliament and Council by late-spring 2023
The need for sustainability, innovation and good governance are highlighted in the MFSA's strategic priorities