Xifres de comerç exterior de Malta

Foreign Trade in Figures

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).