International Trade in Goods: March 2024
Total Trade in Goods: March 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 €327.1 million during March, compared to a deficit of €211.4 million in the corresponding month of 2023. Imports amounted to €676.4 million, while exports totalled €349.4 million. This represents an increase of €100.1 million in imports and a decline of €15.5 million in exports over the same month of the previous year (Table 1). The main increases in imports were primarily due to Mineral fuels, lubricants and related materials (€68.8 million) and Machinery and transport equipment (€55.8 million). On the exports side, the main decreases were registered in Food (€21.9 million), Miscellaneous manufactured articles (€20.1 million), and Machinery and transport equipment (€13.3 million), partly offset by increases in Mineral fuels, lubricants and related materials (€30.6 million), and Chemicals (€12.0 million) (Table 3).
Total Trade in Goods: January-March 2024
During the first three months of the year, the deficit widened by €77.0 million when compared to the corresponding period of 2023, reaching €811.4 million. Imports stood at €1,967.2 million whereas exports reached €1,155.8 million, representing increases of €143.3 million and €66.2 million, respectively (Table 1). Higher imports were mainly recorded in Mineral fuels, lubricants and related materials (€83.5 million), and Machinery and transport equipment (€69.9 million). On the exports side, the main increases were registered in Machinery and transport equipment (€106.5 million), and Mineral fuels, lubricants and related materials (€26.3 million), partly offset by decreases in Miscellaneous manufactured articles (€44.1 million), and Food (€25.2 million) (Table 3).
Chart 1. International Trade in Goods: Quarterly
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Goods were imported mainly from the European Union (58.0 per cent) and Asia (22.9 per cent), while exports were mostly directed to the European Union (33.6 per cent) and North and Central America (14.8 per cent). The highest increase in imports was recorded from Spain (€66.5 million), while imports from the United Kingdom registered the largest drop (€78.6 million). Exports to the United States of America registered the highest increase (€133.7 million), while those to Germany experienced the largest decrease (€15.2 million) (Table 4).
Trade in Goods excluding specific chapters1: March 2024
In March, the deficit of trade in goods excluding specific chapters amounted to €200.0 million, compared to a deficit of €172.6 million recorded in the same month of 2023. Imports and exports amounted to €422.3 million and €222.3 million, respectively, thus representing decreases of 4.0 per cent and 16.8 per cent over the corresponding month of the previous year (Table 1).
Trade in Goods excluding specific chapters1: January-March 2024
During the first three months of 2024, the deficit of trade in goods excluding specific chapters widened by €116.4 million when compared to the same period of 2023, reaching €622.5 million. Imports increased by 2.1 per cent, while exports decreased by 12.1 per cent, reaching €1,275.8 million and €653.2 million, respectively (Table 1).
Chart 2. Trade in Goods excluding specific chapters1 - Quarterly
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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
March 2024
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Chart 5. Percentage distribution of Trade in Goods excluding specific chapters1 by continent/region
March 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: March 2024
- In March 2024, Malta registered a trade deficit of €327.1 million.
- During March 2024, an increase of €100.1 million in imports was recorded, while exports decreased by €15.5 million, over the same month of the previous year.
- In the first three months of 2024, Malta’s trade imports from the European Union reached €1,141.9 million (58.0 per cent of total imports).
- During January-March 2024, the main increase in imports was from Spain (€66.5 million) and the main decrease was from the United Kingdom (€78.6 million).
- In the first three months of 2024, the main increase in exports was recorded to the United States of America (€133.7 million) and the main decrease to from Germany (€15.2 million).
