Total imports from Britain stood at €75.3 million in the first three months since the UK’s withdrawal from the EU came into full effect on January 1, 2021. In the first quarter of 2020, imports to Malta had a combined value of €137.5 million. Figures by the National Statistics Office, however, show an increase in the flow of goods in the opposite direction as exports increased from €10.3 million in 2020 to €18.8 million this year.
The balance of trade narrowed from a deficit of €127.1 million between January and March last year to a deficit of €56.5 million in 2021.
In the first quarter of this year, non-EU European trading partners that include the UK accounted for 10.4 per cent of total imports in goods to Malta and 4.6 per cent of total exports. In the same period last year, imports from this country grouping made up 14.2 per cent of the total share while exports contributed to 5.4 per cent.