Malta: Visió econòmica i política
Centrally located in the Mediterranean, Malta has for a long time portrayed itself as a bridge between Europe and North Africa. Its economy relies heavily on foreign trade, principally with Europe. International trade represents 271.5% of the GDP (World Bank, latest data available), one of the highest rates in the world. Malta exports mainly mineral fuels, lubricants and related materials (27.2%), machinery and transport equipment (24.3%), and chemical products (17.7%); importing mostly machinery and transport equipment (38.2%), mineral fuels, lubricants and related materials (21.6%), and chemicals (18.9% - NSO, 2021).
The country’s main trading partners are Germany (10.2%), Italy (5.5%), France (4.5%), and the UK (3.1%); whereas the main import origins are Italy (20.7%), the United Kingdom (7.6%), France (6.1%), and Spain (5.4% - data by NSO, 2021). Overall, the EU accounts for 35.4% of total exports and 53.8% of imports.
Malta has a structural trade deficit in terms of merchandise: in 2020, the country exported USD 2.6 billion worth of goods, importing USD 5.2 billion. Malta, however, is a service hub and thus a net commercial services exporter: in 2020 the island exported USD 15.8 billion worth of services (-6.1% y-o-y), importing USD 13.2 billion (+3.2%). In the same year, the overall trade balance for goods and services was estimated to be positive by the World Bank, at 9.6% of GDP (down from 14.8% one year earlier). According to the latest figures from the NSO, in 2021 total exports of goods stood at EUR 3.4 billion (-3.5% y-o-y), against USD 6.4 billion of imports (+18.6% y-o-y).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 5,809 | 6,769 | 7,072 | 5,223 | 6,656 |
Exports of Goods (million USD) | 2,516 | 3,192 | 3,007 | 2,680 | 3,111 |
Imports of Services (million USD) | 9,694 | 12,335 | 12,794 | 13,207 | 14,680 |
Exports of Services (million USD) | 13,698 | 16,370 | 16,847 | 15,816 | 18,095 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 290.8 | 273.0 | 275.3 | 291.5 | 287.7 |
Trade Balance (million USD) | -1,661 | -1,746 | -1,852 | -1,515 | -2,819 |
Trade Balance (Including Service) (million USD) | 2,368 | 2,383 | 2,195 | 1,198 | 749 |
Imports of Goods and Services (Annual % Change) | 4.5 | 0.2 | 7.9 | -0.2 | 8.0 |
Exports of Goods and Services (Annual % Change) | 8.7 | -0.4 | 7.0 | -3.8 | 9.0 |
Imports of Goods and Services (in % of GDP) | 136.1 | 127.8 | 129.2 | 139.3 | 136.9 |
Exports of Goods and Services (in % of GDP) | 154.7 | 145.2 | 146.1 | 152.2 | 150.7 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 6.0 | 3.6 | 2.9 | 2.5 | 2.5 |
Volume of imports of goods and services (Annual % change) | 3.7 | 3.6 | 2.6 | 1.8 | 1.7 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2020 |
Germany | 17.0% |
France | 9.0% |
Italy | 6.8% |
Hong Kong SAR, China | 5.7% |
Singapore | 5.5% |
Japan | 5.4% |
United States | 4.9% |
Libya | 2.6% |
Philippines (the) | 2.4% |
Hungary | 2.3% |
Poland | 2.2% |
Netherlands | 2.2% |
United Kingdom | 1.9% |
China | 1.8% |
Spain | 1.4% |
South Korea | 1.4% |
Tunisia | 1.3% |
Ireland | 1.1% |
United Arab Emirates | 1.1% |
Saudi Arabia | 1.1% |
See More Countries | 56.0% |
Main Suppliers (% of Imports) |
2020 |
Italy | 20.2% |
United Kingdom | 8.3% |
China | 7.9% |
France | 7.0% |
Germany | 6.6% |
Spain | 5.1% |
Luxembourg | 4.5% |
India | 3.8% |
Netherlands | 3.6% |
Canada | 3.2% |
Türkiye | 2.5% |
United States | 2.3% |
Trinidad and Tobago | 2.2% |
Greece | 2.0% |
Cayman Islands | 1.9% |
Ireland | 1.8% |
Belgium | 1.5% |
Japan | 1.1% |
South Korea | 1.1% |
Sweden | 1.0% |
See More Countries | 49.9% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
11.6 bn USD of services exported in 2020 | |
54.53% | |
32.76% | |
7.24% | |
3.61% | |
1.21% | |
Auxiliary servicesAuxiliary services | 0.07% |
0.38% | |
0.28% | |
Telecommunications servicesTelecommunications services | 0.28% |
4.9 bn USD of services imported in 2020 | |
62.38% | |
26.19% | |
Franchises and similar rightsFranchises and similar rights | 0.05% |
3.06% | |
ReinsuranceReinsurance | 1.83% |
2.85% | |
Telecommunications servicesTelecommunications services | 2.85% |
2.59% | |
2.52% | |
0.30% | |
0.12% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023
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