International Trade in Goods: February 2024
Total Trade in Goods: February 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 €175.0 million during February, compared to a deficit of €249.1 million in the corresponding month of 2023. Imports amounted to €628.0 million, while exports totalled €453.0 million, representing increases over the same month of the previous year in both imports and exports of €39.9 million and €114.0 million, respectively (Table 1). The main increase in imports was primarily due to Machinery and transport equipment (€26.3 million). On the exports side, the main increase was also registered in Machinery and transport equipment (€131.6 million), partly offset by decreases in Mineral fuels, lubricants and related materials (€12.4 million), and Miscellaneous manufactured articles (€6.3 million) (Table 3).
Total Trade in Goods: January-February 2024
During the first two months of the year, the deficit narrowed by €52.2 million when compared to the corresponding period of 2023, reaching €469.3 million. Imports stood at €1,267.7 million whereas exports reached €798.4 million, representing increases of €21.6 million and €73.8 million, respectively (Table 1). Higher imports were mainly recorded in Miscellaneous manufactured articles (€9.4 million), Machinery and transport equipment (€8.8 million) and, Chemicals (€8.5 million), partly offset by a decrease in Semi-manufactured goods (€14.3 million). On the exports side, the main increase was registered in Machinery and transport equipment (€117.9 million), partly offset by a decrease in Miscellaneous manufactured articles (€24.7 million) (Table 3).
Chart 1. International Trade in Goods: Monthly
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Goods were imported mainly from the European Union (57.0 per cent) and Asia (23.2 per cent), while exports were mostly directed to the European Union (29.0 per cent) and North and Central America (19.8 per cent). The highest increase in imports was recorded from Turkey (€39.4 million), while imports from the United Kingdom registered the largest drop (€77.1 million). Exports to the United States of America registered the highest increase (€133.0 million), while those to South Korea experienced the largest decrease (€8.0 million) (Table 4).
Trade in Goods excluding specific chapters1: February 2024
In February, the deficit of trade in goods excluding specific chapters amounted to €197.9 million, compared to a deficit of €161.3 million recorded in the same month of 2023. Imports and exports amounted to €423.7 million and €225.8 million, respectively, thus representing an increase of 9.0 per cent in imports and a decrease of 0.7 per cent in exports over the corresponding month of the previous year (Table 1).
Trade in Goods excluding specific chapters1: January-February 2024
During the first two months of 2024, the deficit of trade in goods excluding specific chapters widened by €84.4 million when compared to the same period of 2023, reaching €416.5 million. Imports increased by 4.0 per cent, while exports decreased by 11.0 per cent, reaching €840.0 million and €423.5 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
February 2024
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Chart 5. Percentage distribution of Trade in Goods excluding specific chapters1 by continent/region
February 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
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: February 2024
- In February 2024, Malta registered a trade deficit of €175.0 million.
- During February 2024, an increase of €39.9 million in imports was recorded, while exports increased by €114.0 million, over the same month of the previous year.
- In January-February 2024, Malta’s trade imports from the EU reached €722.7 million (57.0 per cent of total imports).
- During the first two months of 2024, the main increase in imports was from Turkey (€39.4 million) and main decrease was from the United Kingdom (€77.1 million).
- During January-February 2024, the main increase in exports was to the United States of America (€133.0 million) and main decrease was to South Korea (€8.0 million).
