International Trade in Goods: August 2024
Total Trade in Goods: August 2024
Data in this news release presents all international trade in goods registered up to the indicated cut-off date. Provisional data recorded a total trade in goods deficit of €362.2 million during August, compared to a deficit of €598.9 million in the corresponding month of 2023. Imports amounted to €787.0 million, while exports totalled €424.8 million, representing a decrease in imports of €165.8 million and an increase in exports of €70.9 million, over the same month of the previous year (Table 1). The decrease in imports was mainly due to Machinery and transport equipment (€178.6 million). On the exports side, the main increase was registered in Mineral fuels, lubricants and related materials (€72.4 million) (Table 3).
Total Trade in Goods: January-August 2024
During the first eight months of the year, the deficit narrowed by €241.4 million when compared to the corresponding period of 2023, reaching €2,879.3 million. Imports stood at €6,058.1 million whereas exports reached €3,178.8 million, representing increases of €81.2 million and €322.5 million, respectively (Table 1). Higher imports were mainly recorded in Mineral fuels, lubricants and related materials (€413.3 million), and Chemicals (€87.3 million), partly offset by decreases in Machinery and transport equipment (€283.5 million), Semi-manufactured goods (€53.5 million), and Food (€41.3 million). On the exports side, the main increases were registered in Mineral fuels, lubricants and related materials (€284.8 million), and Chemicals (€50.7 million) (Table 3).
Chart 1. International Trade in Goods: Monthly
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Goods were imported mainly from the European Union (55.4 per cent) and Asia (21.5 per cent). Similarly, exports were mostly directed to the European Union (36.7 per cent) and Asia (11.0 per cent). The highest increase in imports was recorded from Turkey (€98.9 million), while imports from Germany registered the largest drop (€230.7 million). Exports to the United States of America registered the highest increase (€139.0 million), while those to Germany experienced the largest decrease (€43.6 million) (Table 4).
Trade in Goods excluding specific chapters1: August 2024
In August, the deficit of trade in goods excluding specific chapters amounted to €158.6 million, compared to a deficit of €210.2 million recorded in the same month of 2023. Imports and exports amounted to €394.5 million and €235.9 million, respectively, thus representing a decrease of 10.9 per cent in imports and an increase of 1.6 per cent in exports over the corresponding month of the previous year (Table 1).
Trade in Goods excluding specific chapters1: January-August 2024
During the first eight months of 2024, the deficit of trade in goods excluding specific chapters widened by €18.4 million when compared to the same period of 2023, reaching €1,755.3 million. Both imports and exports decreased by 0.4 per cent and 1.8 per cent, amounting to €3,611.3 million and €1,856.0 million, respectively (Table 1).
Chart 2. Trade in Goods excluding specific chapters1: Monthly
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Chart 3. Percentage change of Trade in Goods
Over the corresponding month of the previous year
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Chart 4. Percentage distribution of total Trade in Goods by major commodity group
August 2024
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Chart 5. Percentage distribution of Trade in Goods excluding specific chapters1 by continent/region
August 2024
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1 Data excluding Mineral fuels, oils and products (Chapter 27), Aircrafts/spacecrafts and parts thereof (Chapter 88) and Ships, boats and floating structures (Chapter 89). See methodological note 8.
Note: Totals may not add up due to rounding.
Tables
Methodological Notes
i. The Intrastat Supplementary Declaration that traders in merchandise goods must submit in respect of arrivals (imports) and dispatches (exports) of goods from and to the Member States of the European Union (EU) in compliance with Legal Notice 105 of 2008, and
ii. The Customs Declarations for imports from and exports to countries that are not Member States of the EU.
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International Trade in Goods: August 2024
- In August 2024, Malta registered a trade deficit of €362.2 million.
- During August 2024, a decrease of €165.8 million in imports was recorded, while exports increased by €70.9 million over the same month of the previous year.
- In the first eight months of 2024, Malta’s trade imports from the European Union reached €3,355.9 million (55.4 per cent of total imports).
- During January-August 2024, the main increase in imports was from Turkey (€98.9 million) and the main decrease was from Germany (€230.7 million).
- In the first eight months of 2024, the main increase in exports was recorded from the United States of America (€139.0 million) and the main decrease was from Germany (€43.6 million).
