Malta’s trade deficit narrows as exports see strong growth

VALLETTA, Nov. 11 (Xinhua) — Malta’s trade deficit in goods narrowed by 100.5 million euros (107.5 million U.S. dollars) in the first nine months of 2024 compared to the same period last year, according to provisional data from the National Statistics Office (NSO) on Monday. The deficit now stands at 3,292.6 million euros.
From January to September, Malta recorded imports of 6,923.5 million euros and exports of 3,631.0 million euros, marking increases of 4.3 percent and 11.8 percent, respectively.
In September alone, imports grew 13.8 percent year-on-year to 750.4 million euros, while exports rose 15.7 percent to 449.3 million euros. This rise in imports was primarily driven by mineral fuels, lubricants, and miscellaneous transactions, offset by declines in food and machinery.
Imports from China reached 29.4 million euros in September, up from 28.9 million euros in the same month of 2023. Over the nine-month period, imports from China totaled 289.7 million euros, compared to 281 million euros during the same timeframe last year. (1 euro = 1.07 U.S. dollar) ■