Malta Trade Deficit Highest Since July 2025

Malta’s trade deficit narrowed to €408 million in June 2026 from an upwardly revised €472.4 million a year earlier, although marking the largest deficit since July 2025. Exports surged 17.9%, driven mainly by higher shipments of mineral fuels, lubricants and related materials (34.69%) and machinery and transport equipment (32.05%), partly offset by a 23.56% decline in chemicals. Meanwhile, imports edged up 0.4%, supported by increased purchases of mineral fuels, lubricants and related materials (10.10%), which offset lower imports of machinery and transport equipment (-3.97%), chemicals (-7.46%) and semi-manufactured goods (-5.52%). In the second quarter of 2026, the trade deficit widened to €1,195.8 million from €714.3 million in Q1. In the first half of 2026, however, the deficit narrowed sharply to €177.4 million from €1,910.2 million a year earlier.

Malta's trade deficit widened slightly to €339.0 million in May 2026 from a revised €326.9 million in the same month a year earlier. Exports jumped 26.6% year-on-year to €516.1 million, driven mainly by higher shipments of mineral fuels, lubricants and related materials (€88.7 million) and machinery and transport equipment (€30.9 million), partly offset by weaker exports of chemicals and chemical products. Meanwhile, imports rose 16.4% to €855.1 million, largely due to increased purchases of mineral fuels, lubricants and related materials (€170.3 million). The rise was partly offset by lower imports of machinery and transport equipment (€30.1 million), chemicals (€8.7 million), and food (€8.6 million). During the January-May period, EU countries accounted for 62.3% of Malta's imports (€2.14 billion) and 32.0% of its exports (€659.5 million).

Malta’s trade deficit narrowed to €314.8 million in April 2026 from a revised €436.1 million in the corresponding month of the previous year. Exports rose 18.1% year-on-year to €400 million, lifted by higher sales in mineral fuels, lubricants and related materials (€27 million), machinery and transport equipment (€25.8 million), and miscellaneous manufactured articles (€18.7 million), while gains were partially offset by a decrease in chemicals and chemical products (€9.9 million). Germany registered the largest increase in exports (€43.2 million), partly tempered by the largest decrease recorded in Turkey (€45.8 million). Meanwhile, imports fell 7.7% to €714.8 million, driven largely by lower purchases of mineral fuels, lubricants, and related materials (€35.5 million). Imports from Italy registered the largest drop (€94.4 million), while imports grew in the Netherlands (€117.3 million).