Malta recorded a trade deficit of 139500 EUR Thousand in August of 2020.
Balance of Trade in Malta averaged -130965.19 EUR Thousand from 1996 until 2020, reaching an all time high of -7900 EUR Thousand in December of 2002 and a record low of -738927 EUR Thousand in March of 2019. This page provides - Malta Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malta Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Statistics Office, Malta
Balance of Trade in Malta is expected to be -111300.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Malta to stand at -111300.00 in 12 months time. In the long-term, the Malta Balance of Trade is projected to trend around -131300.00 EUR Thousand in 2021, according to our econometric models.
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Malta Balance of Trade
Malta enjoys a favorable geographic position and large deposits of limestone, which contribute to the strength its export sector. As an island, Malta produces only around 20% of its food necessities, has limited access to fresh water and lacks energy sources. Due to this mix of factors, the economy of Malta is very dependent on foreign trade. Malta mostly exports electrical machinery, mechanical appliances, fish and crustaceans, pharmaceutical producuts and printed material. On the other hand, Malta is a net importer of mineral fuels and oils, non-electrical machinery, aircraft and other transport equipment, plastic and other semi-manufactured goods, food, drink and tobacco. Malta adopted the Euro in 2008, highlighting the status of the European Union as its most important trading partner, having vast trade flows specifically with Italy, the United Kingdom, Germany and France.