Trade deficit narrows in March

Provisional figures for registered trade in goods in Malta recorded a deficit of €188.3 million during March, compared to a deficit of €237.1 million in the corresponding month of 2022.

Data published by the National Statistics Office on Wednesday shows that imports amounted to €537.5 million, while exports totalled €349.2 million. This represents declines in both imports and exports of €50.3 million and €1.5 million, respectively, over the same month of the previous year.

The main decrease in value of imports was primarily due to Machinery and Transport Equipment (€79.1 million), partly offset by increases in Food (€20.2 million), and Mineral Fuels, Lubricants and Related Materials (€13.8 million).

On the exports side, the main decreases were registered in Mineral Fuels, Lubricants and Related Materials (€24.4 million), and Chemicals (€15.2 million), partly offset by increases in Food (€20.7 million), and Miscellaneous manufactured articles (€15.1 million).

Total Trade in Goods: January-March

During the first three months of the year, the total trade in goods deficit widened by €106.8 million when compared to the corresponding period of 2022, reaching €722.4 million. Imports increased by €89.1 million, while exports declined by €17.7 million, amounting to €1,794.6 million and €1,072.2 million, respectively.

Higher imports were mainly recorded in Food (€37.8 million), Miscellaneous manufactured articles (€17.1 million) and Chemicals (€17.0 million).

On the exports side, the main decreases were registered in Chemicals (€43.8 million), and Mineral fuels, lubricants and related materials (€36.8 million), partly offset by an increase in Machinery and Transport Equipment (€50.9 million).