Malta: Trade deficit narrows in April

Imports and exports decreased between March and April, reducing the trade deficit by €90.8 million to close at €139.4 million. Figures by the National Statistics Office for the fourth month this year show that Malta registered a decline of €146 million in imports driven mainly by a fall of 96 million in machinery and transport equipment.

Meanwhile, a decrease of €30.5 million in exports and mineral fuels and of €18 million in machinery and transport equipment were the main agents behind a general drop of €55 million in exported goods.

Just over half of imports in April came from EU members, accounting to €192 million – a drop from €230 million in the same month last year. Exports to the EU27 also fell from €159 million in April 2019 to €79 million in 2020.

Exports to Asia and Africa increased by €19 million and €10 million, respectively, compared with last year. Imports from Asia registered a €17 million decrease, but they rose by €29 from Africa. The trade of balance with North and Central America went from a surplus of €6 million in April 2019 to €0.2 million this year.