Malta recorded a deficit of €257.5 million in trade in goods during February 2023

Provisional data recorded a total trade in goods deficit of €257.5 million during February, compared to a deficit of €205.9 million in the corresponding month of 2022. Imports amounted to €583.1 million, while exports totalled €325.6 million.

This represents an increase of €13.5 million in imports and a decline of €38.1 million in exports over the same month of the previous year.

The rise in the value of imports was primarily due to Chemicals (€13.0 million), Food (€10.4 million), and Miscellaneous manufactured articles (€6.3 million), partly offset by a decrease in Mineral fuels, lubricants and related materials (€21.5 million).

On the exports side, the main decrease was registered in Chemicals (€27.5 million).

Total trade in goods: January to February 2023

During the first two months of the year, the total trade in goods deficit widened by €158.0 million when compared to the corresponding period of 2022, reaching €537.1 million.

Imports increased by €129.0 million, while exports declined by €29.0 million, amounting to €1,247.4 million and €710.3 million respectively.

Higher imports were mainly recorded in Machinery and transport equipment (€79.6 million), Chemicals (€19.3 million), Food (€16.7 million), and Miscellaneous manufactured articles (€13.4 million).

On the exports side, the main decreases were registered in Chemicals (€35.6 million), Semi-manufactured goods (€16.3 million), Food (€15.0 million), and Mineral fuels, lubricants and related materials (€11.3 million), partly offset by an increase in Machinery and transport equipment (€42.2 million).

Goods were imported mainly from the European Union (51.0%) and Asia (20.8%). Similarly, exports were mostly directed to the European Union (33.9%) and Asia (15.5%).

The main increase and decrease in imports were registered from the United Kingdom (€75.1 million) and Italy (€38.0 million), respectively. With respect to exports, the main increase was directed to Germany (€72.5 million), whereas France reported the highest decrease (€43.0 million).

In February, the deficit of trade in goods excluding specific chapters amounted to €171.3 million, compared to a deficit of €105.2 million recorded in the same month of 2022.

Imports and exports amounted to €385.8 million and €214.5 million, respectively, thus representing an increase of 11.1% in imports and a decrease of 11.4% in exports, over the corresponding month of the previous year.

During the first two months of 2023, the deficit of trade in goods excluding specific chapters widened by €121.9 million when compared to the same period of 2022, reaching €349.3 million.

Imports increased by 15.3%, while exports decreased by 3.0%, and amounted to €811.3 million and €462.0 million respectively.