In July 2025, compared with June 2025, the seasonally adjusted retail trade volume decreased by 0.5% in the euro area and by 0.4% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In June 2025, retail trade volume grew by 0.6% in the euro area and by 0.5% in the EU.

In July 2025, compared with July 2024, the calendar adjusted retail sales index increased by 2.2% in the euro area and by 2.4% in the EU.

Monthly comparison by retail sector and by Member State

In the euro area in July 2025, compared with June 2025, the volume of retail trade decreased for food, drinks, tobacco by 1.1%, increased for non-food products (except automotive fuel) by 0.2%, decreased for automotive fuel in specialised stores by 1.7%.

In the EU, the volume of retail trade decreased for food, drinks, tobacco by 0.9%, increased for non-food products (except automotive fuel) by 0.2%, decreased for automotive fuel in specialised stores by 1.3%.

Among Member States for which data is available, the largest monthly decreases in the total retail trade volume were recorded in Croatia (-4.0%), Estonia (-2.0%) and Germany (-1.5%).

The highest increases were observed in Lithuania (+1.5%), Latvia (+1.4%) and the Netherlands (+1.1%).

Annual comparison by retail sector and by Member State

In the euro area in July 2025, compared with July 2024, the volume of retail trade increased for food, drinks, tobacco by 0.9%, increased for non-food products (except automotive fuel) by 3.1%, increased for automotive fuel in specialised stores by 2.3%.

In the EU, the volume of retail trade increased for food, drinks, tobacco by 0.7%, increased for non-food products (except automotive fuel) by 3.3%, increased for automotive fuel in specialised stores by 3.3%.

Among Member States for which data are available, the highest annual increases in the total retail trade volume were recorded in Cyprus (+8.5%), Portugal (+6.1%) and Bulgaria (+6.0%). The only decrease was observed in Slovenia (-0.7%).

The post Volume of retail trade down by 0.5% in the euro area and by 0.4% in the EU first appeared on The Malta Business Weekly.

The increase in imports was mainly due to Machinery and transport equipment (€319.4 million), partly offset by a decrease in Mineral fuels, lubricants and related materials (€164.4 million).

On the exports side, the main decreases were registered in Mineral fuels, lubricants and related materials (€42.4 million), Miscellaneous manufactured articles (€38.4 million), and Chemicals (€16.9 million).

Total Trade in Goods: January-July 2025

During the first seven months of the year, the deficit widened by €251.7 million when compared to the corresponding period of 2024, reaching €2,869.0 million. Imports stood at €5,397.8 million whereas exports reached €2,528.8 million, representing decreases of €70.1 million and €321.7 million, respectively, over the same period of the previous year. Lower imports were mainly recorded in Mineral fuels, lubricants and related materials (€344.7 million), partly offset by an increase in Machinery and transport equipment (€239.2 million).

On the exports side, the main decreases were registered in Machinery and transport equipment (€206.7 million), and Mineral fuels, lubricants and related materials (€105.0 million).

Goods were imported mainly from the European Union (63.3 per cent) and Asia (18.8 per cent). Similarly, exports were mostly directed to the European Union (36.3 per cent) and Asia (12.2 per cent). The highest increase in imports was recorded from France (€384.4 million), while imports from Italy registered the largest drop (€109.4 million).

Exports to Turkey registered the highest increase (€94.3 million), while those to the United States of America experienced the largest decrease (€121.2 million).

Trade in Goods excluding specific chapters

In July, the deficit of trade in goods excluding specific chapters amounted to €305.4 million, compared to a deficit of €278.0 million recorded in the same month of 2024. Imports stood at €491.7 million and exports at €186.3 million, representing decreases in both imports and exports of 9.5 per cent and 29.8 per cent, respectively, when compared to the corresponding month last year.

During the first seven months of 2025, the deficit of trade in goods excluding specific chapters widened by €58.6 million when compared to the same period of 2024, reaching €1,732.3 million. Both imports and exports decreased by 0.7 per cent and 4.9 per cent, respectively, amounting to €3,305.0 million and €1,572.7 million.

The post Registered trade in goods showed a deficit of €904.0 million in July 2025 first appeared on The Malta Business Weekly.

TradeMalta marked its 10th anniversary with a business networking event on Wednesday, 22 May 2025, at Xara Lodge in Rabat. The evening brought together key stakeholders, government officials, and business leaders to celebrate a decade of assisting Malta-based businesses in their international growth journeys.

The evening featured keynote addresses by the Deputy Prime Minister and Minister for Foreign Affairs and Tourism, Dr Ian Borg, and TradeMalta CEO, Mr Anton Buttigieg.  Both speakers paid tribute to TradeMalta’s significant contribution to Malta’s international economic development.

A commemorative cake-cutting ceremony marked the occasion, serving as a symbolic gesture to celebrate TradeMalta’s ten-year milestone.  Among the distinguished guests were former Chairpersons, Directors and employees, members of the business community many of whom benefitted from TradeMalta’s services, and long-time stakeholders, all of whom have played a role in shaping TradeMalta’s journey.

In his remarks, Dr Borg hailed TradeMalta as a key driver of internationalisation, describing the anniversary as a moment of national significance. He noted that this  milestone celebrated TradeMalta’s accomplishments, while highlighting Malta’s broader efforts to help local businesses innovate, compete, and thrive globally. “Going forward, let’s take stock and give this entity a new energy, a new impetus, to continue to reach new heights. Because the next decade will require even greater agility, creativity, and partnership. And we will continue to be here, to support you in this direction,” he said.

Mr Anton Buttigieg attributed the organisation’s success to the commitment of its team, the ongoing support from the Government and the Malta Chamber, and the engagement of numerous stakeholders over the years such as HSBC, TradeMalta’s long-standing strategic partner, “We are proud of how far we’ve come. We’ve expanded our reach, engaged new markets, embraced digital transformation, and worked tirelessly to support local companies seeking growth abroad. From emerging start-ups to established exporters, the journey has been one of shared belief in Malta’s global potential.”

Since its inception, TradeMalta has supported businesses through both financial assistance and a comprehensive suite of non-financial support services. These include international client matchmaking, access to global market intelligence, and bespoke training programmes.

As it celebrates this milestone, TradeMalta is looking to the future with renewed focus. It remains committed to empowering Malta-based businesses to expand beyond Malta’s shores and strengthening the country’s global economic presence, for many years to come.

Businesses interested in expanding internationally are encouraged to reach out with their ideas and plans. TradeMalta looks forward to offering the guidance and resources needed to turn those ambitions into successful endeavours.

For more information about the services offered by TradeMalta visit www.trademalta.org, call on 22472400 or send an email at info@trademalta.org.

The post TradeMalta celebrates 10 years of empowering local businesses first appeared on The Malta Business Weekly.

This marked TradeMalta’s second official trade mission to Saudi Arabia, following a previous visit in 2022. This year’s delegation comprised nine Malta-based enterprises representing a broad range of sectors, including education and training, architectural services, healthcare, manufacturing and ICT, reflecting the breadth and expertise of Malta’s export-oriented business community.

Throughout the week, the delegation participated in a series of high-level engagements including B2B meetings hosted by the Riyadh Chamber of Commerce as well as a market insight session at the Ministry of Investment of Saudi Arabia. The programme also allowed for individual business meetings and follow-ups with prospective clients and partners.

“Saudi Arabia is undergoing an exciting phase of transformation, and this mission provided valuable insight into the real opportunities across sectors aligned with Malta’s strengths. The level of interest shown in Malta-based companies was encouraging, and the visit enabled us to build new relationships and explore potential partnerships in one of the region’s most dynamic markets,” remarked Anton Buttigieg, CEO of TradeMalta.

TradeMalta remains committed to positioning Malta as a credible and capable partner for international business. Through such initiatives, TradeMalta continues to empower Malta-based businesses to internationalise by supporting their pursuit of sustainable international growth and long-term commercial success.

Businesses interested in expanding internationally are encouraged to reach out with their ideas and plans. TradeMalta looks forward to offering the guidance and resources needed to turn those ambitions into successful endeavours.

The post TradeMalta successfully leads a business mission to Saudi Arabia first appeared on The Malta Business Weekly.

Total trade in goods: October 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 €300.4 million during October, compared to a deficit of €307.2 million in the corresponding month of 2023. Imports amounted to €830.3 million, while exports totalled €529.8 million, representing increases in both imports and exports of €69.5 million and €76.2 million, respectively, over the same month of the previous year. The increase in imports was mainly due to Machinery and transport equipment (€51.8 million), and Mineral fuels, lubricants and related materials (€34.4 million), partly offset by a decrease in Food (€16.5 million). On the exports side, the main increases were registered in Food (€34.1 million), and Chemicals (€33.6 million).

Total trade in goods: January-October 2024

During the first 10 months of the year, the deficit widened by €388.6 million when compared to the corresponding period of 2023, reaching €4,050.6 million. Imports stood at €8,285.9 million whereas exports reached €4,235.3 million, representing increases of €870.8 million and €482.2 million, respectively. Higher imports were mainly recorded in Mineral fuels, lubricants and related materials (€588.0 million), and Machinery and transport equipment (€323.8 million), partly offset by a decrease in Food (€67.7 million). On the exports side, the main increases were registered in Mineral fuels, lubricants and related materials (€350.2 million), and Chemicals (€79.6 million).

Goods were imported mainly from the European Union (59.0 per cent) and Asia (20.6 per cent). Similarly, exports were mostly directed to the European Union (34.9 per cent) and Asia (12.8 per cent). The highest increase in imports was recorded from France (€501.5 million), while imports from Germany registered the largest drop (€239.2 million). Exports to the United States of America registered the highest increase (€143.7 million), while those to Germany experienced the largest decrease (€75.8 million).

Trade in goods excluding specific chapters: October 2024

In October, the deficit of trade in goods excluding specific chapters amounted to €116.7 million, compared to a deficit of €224.8 million recorded in the same month of 2023. Imports and exports amounted to €469.3 million and €352.6 million, respectively, thus representing a decrease of 8.3 per cent in imports and an increase of 22.8 per cent in exports over the corresponding month of the previous year.

Trade in goods excluding specific chapters: January-October 2024

During the first 10 months of 2024, the deficit of trade in goods excluding specific chapters narrowed by €98.7 million when compared to the same period of 2023, reaching €2,062.3 million. Imports decreased by 0.7 per cent while exports increased by 2.7 per cent, amounting to €4,574.8 million and €2,512.5 million, respectively.

The post Malta’s trade deficit narrows in October 2024 first appeared on The Malta Business Weekly.

Organised by TradeMalta, the third edition of the MIBA awards attracted an impressive array of entries from Maltese exporters, highlighting the vibrant and diverse nature of Malta-based businesses that trade internationally. 

The event featured thirteen outstanding finalists competing across four key categories: Best SME Exporter, Best Large Exporter, Best High Potential Exporter, and Best Emerging Markets Exporter.

The finalists represented a diverse range of industries, showcasing the robust capabilities of Malta’s exporters in sectors such as manufacturing, research and development, training, software and AI technology, maritime, 3D printing, and web design.

The evening culminated in the announcement of the winners across the four categories, along with the overall winner, as follows:

• Best SME Exporter: IoT Solutions
• Best Large Exporter: Magro Brothers
• Best High Potential Exporter: EBO
• Best Emerging Markets Exporter: Salvo Grima
• Overall Winner: Magro Brothers

Distinguished speakers, including the Hon. Deputy Prime Minister Dr. Ian Borg, David Matrenza, Chairman of TradeMalta, and Geoffrey Fichte, CEO of HSBC Bank Malta p.l.c., commended the resilience and innovation of Maltese enterprises in the global marketplace.

Dr. Colm Reilly, an international business strategy advisor, delivered an inspiring keynote speech on the unique challenges of island economies emphasizing the importance of competitiveness and resilience for smaller economies.

Anton Buttigieg, CEO TradeMalta added, “These awards reflect the remarkable spirit and determination of Malta based businesses.  Each finalist and winner demonstrate the resilience and creativity required to succeed in today’s competitive global markets. These awards provide an opportunity to celebrate Malta’s entrepreneurial excellence in international business.”

HSBC CEO Geoffrey Fichte commented, “At HSBC, we are committed to supporting businesses that put Malta on the global map. Tonight’s winners and finalists demonstrate the power of vision, adaptability, and hard work in achieving international success. We are proud to support TradeMalta with this initiative to celebrate the remarkable capabilities of Maltese businesses “

The Malta International Business Awards are organised by TradeMalta and endorsed by the Ministry for Foreign and European Affairs and Trade and The Malta Chamber. The awards are supported by TradeMalta’s strategic partner HSBC Bank Malta p.l.c. as well as Grant Thornton and Emirates as supporting partners together with Times of Malta as the exclusive Media Partner

The awards night was an evening of celebration, recognition and networking which provided an opportunity for businesses to showcase their achievements, highlighting the robust capabilities of Malta’s exporters, share best practices with their peers, and inspire other entrepreneurs to embark on similar journeys in pursuing international success.

For more information about the services offered by TradeMalta visit www.trademalta.org or call on 22472400.

The post The winners of the Malta International Business Awards 2024 announced first appeared on The Malta Business Weekly.

Bugeja Said explained that one of the schemes will assist fishers owning traditional wooden vessels, such as luzzu and kajjik. Another scheme will focus on financial assistance for the purchase of more sustainable and environmentally friendly machinery.

“The measures announced in this year’s Budget are a testament to our commitment to Maltese and Gozitan fishers. We will continue offering various forms of assistance, as we have in previous years, and we will introduce new measures to reach more individuals in this sector,” stated the parliamentary secretary.

She emphasised that the government’s financial support is strengthening and expanding this sector. She announced an allocation of approximately €8 million for the fisheries sector in the coming year, which will be invested through schemes, financial aid, and research initiatives.

Bugeja Said also outlined efforts to attract more young people to the sector. “In the coming days, we will launch consultations with various stakeholders to identify financial support initiatives that target youth. Similar to the Young Farmers model, where we help young farmers secure capital to purchase land, we will adopt the same approach for young individuals interested in entering the fisheries sector but lacking sufficient capital,” concluded Bugeja Said.

Dennis Calleja, Director of the Aquaculture Directorate within the Fisheries and Aquaculture Department, elaborated on the various schemes launched. He noted that in the coming days, Maltese and Gozitan fishers will receive letters with all the necessary information to benefit from the allocated funds.

The post €8 million in financial assistance for Maltese and Gozitan fishers first appeared on The Malta Business Weekly.

The OECD’s work is increasingly vital in addressing global challenges like climate change, digital transformation and geopolitical tensions through coordinated responses, helping policymakers understand the interplay between digitalisation, ageing populations and climate change while identifying synergies and vulnerabilities.

“By using internationally comparable data, the OECD provides tailored policy recommendations that account for regional specifics and we engage with diverse stakeholders including governments, the private sector and civil society to enhance analysis and recommendations. The OECD also promotes international dialogue and action during forums like the G7, G20, APEC and ASEAN to align global efforts for more economic growth,” explains Prof. Di Noia.

Prof. Di Noia explains how through detailed analysis, data-driven insights and recommendations across various areas, the OECD seeks to influence economic policies mainly through its Economic Outlook, which provides macroeconomic forecasts on global conditions, inflation, GDP growth and risks to help policymakers in monetary, fiscal and structural decisions.

“Our Economic surveys offer country-specific analysis and recommendations for national reforms and our broad policy focus ensures robust economic policymaking.”

“For instance, the Directorate for Financial and Enterprise Affairs leads work on markets and conduct, contributing to policy formation. Key publications like the Global Debt Report 2024 examine financial stability and policy considerations. The OECD’s work on capital markets, anti-corruption and business conduct drives global policy changes and has influenced important reforms in countries such as Latvia, Costa Rica, Bulgaria and Colombia.”

Recently, the OECD took the lead in addressing tax avoidance, particularly in calling for a global minimum tax of 15%. Meanwhile, Malta has secured a six-year exemption, allowing it to maintain lower tax rates until the end of this decade.

“Malta is recognised as a committed and constructive member of both the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and the Global Forum on Transparency and Exchange of Information for Tax Purposes. The OECD continues to work closely and constructively with Malta on tax matters, acknowledging its engagement while addressing its unique position on corporate tax reform,” he said.

Asked about the OECD’s new areas of focus and how it is adapting its agenda to meet future challenges, Prof. Di Noia explained how the OECD is intensifying its focus on climate change and digital transformation to promote sustainable and inclusive growth.

“To support the net-zero transition, the OECD is advancing emission reduction efforts, particularly in hard-to-abate sectors, and fostering international cooperation through initiatives like the Climate Club. Its work on climate finance, adaptation strategies and the green transition is helping countries achieve climate goals while ensuring economic resilience, supported by projects like Net Zero+ and the International Programme for Action on Climate (IPAC).”

“In digital transformation, the OECD’s Principles on AI advocate for a rights-oriented, human-centric approach, setting international standards for AI governance to promote responsible AI practices. Initiatives like the AI Policy Observatory and the Global Forum on Technology help guide policymakers in managing risks and leveraging digital innovation while our Directorate for Financial and Enterprise Affairs updates tools and explores their impact on policy and business through reports on corporate sustainability and AI in finance.”

Asked for an assessment of Malta’s current financial services sector, its growth in the past years and its efforts to renew itself for more future growth, Prof. Di Noia acknowledged that Malta’s financial services sector has contributed significantly to the country’s economy thanks to a banking sector that supported borrowers during the Covid-19 pandemic and an increase of 6,500 people employed in this sector between 2019-2023.

“However, challenges like supply chain disruptions, inflation and geopolitical issues persist and this is why well-regulated and transparent financial markets are crucial for stability and investor confidence.”

Prof. Di Noia quoted the Global Debt Report, which emphasises investment in productivity and sustainable growth as well as Malta’s 2023 National Strategy for Financial Services, which aims to enhance payments infrastructure and to expand the talent pool.

“By improving financial processes and promoting digital finance, Malta can drive efficiency and innovation,” he added.

Last February it was announced that Malta was meant to forward its formal application to join the OECD. At what stage are these proceedings and how will Malta be expected to honour its membership?

“Following Malta’s announcement to strengthen ties with the OECD, Malta developed an OECD Action Plan covering key policy areas to enhance alignment with OECD bodies and legal instruments, while supporting domestic reforms driven by an Inter-Ministerial OECD Working Group, headed by the Ministry of Foreign Affairs, with participation from all line ministries.”

“We look forward to collaborating with Malta on the implementation of this action plan,” concluded Prof. Di Noia.

The post ‘OECD acknowledges Malta’s unique corporate tax proposition’ – Prof. Carmine Di Noia first appeared on The Malta Business Weekly.

This event marks the return of Maltese companies to this fair after an absence of several years. The exhibition, now in its 15th edition, is renowned as the foremost gathering for the building, design, and construction sector in North Africa, and is taking place at the Tripoli International Fair Grounds from 29 April to 2 May. Libya Build serves as a vital platform, uniting thousands of construction solutions under one roof.

Five Maltese companies are participating, seizing the opportunity to forge new connections and explore potential partnerships. They are set to showcase their expertise with a diverse array of offerings spanning door designs, engineering solutions, integrated professional and technical services in building construction, fibreglass manufacturing, and operational risk management solutions.

Anton Buttigieg, CEO of TradeMalta, commented, “TradeMalta is delighted to spearhead the Malta Pavilion at Libya Build. Our involvement underscores TradeMalta’s dedication to facilitating international trade and fostering growth opportunities for Maltese businesses. We are committed to empowering local enterprises to expand their global footprint and seize promising prospects in international markets.”

Participation in Libya Build presents an excellent opportunity for Maltese companies to engage with industry leaders from North Africa and the Middle East and cultivating valuable relationships and accessing new avenues for growth. Visitors are encouraged to visit the Malta Pavilion in Hall 1 at the Tripoli International Fair Grounds to discover the latest innovations and capabilities offered by Maltese firms.

The post TradeMalta facilitates Maltese companies’ participation at Libya Build first appeared on The Malta Business Weekly.

The trade delegation, which is being organised by TradeMalta in collaboration with the Ethiopian Investment Commission, is made up of sixteen enterprises coming from different sectors – education and training, construction and building maintenance services, medical equipment, business consultancy, manufacturing, energy and sustainable solutions, ICT, financial services, and architectural and design professional services.  Malta Enterprise, MCAST and the Institute of Tourism Studies are also part of the delegation.

Being the seat of the African Union, Ethiopia presents attractive opportunities for Malta-based businesses exploring new avenues for export and international expansion. Moreover, Ethiopia serves as a hub in Eastern Africa, acting as a vital gateway to tap into the broader East African market. This provides huge potential for fostering mutually beneficial economic growth and collaboration between the two nations.

The multi-sector business mission currently in Addis Ababa aims to assist Malta-based businesses to extend their reach into this untapped market, whilst capitalising on the significant benefits brought about by the setting up of Malta’s embassy in Addis Ababa two years ago. Through leveraging this diplomatic milestone, delegates can unlock new growth opportunities in the vibrant economic landscape of Addis Ababa and beyond.

Anton Buttigieg, CEO of TradeMalta commented, “This Trade Mission is an important milestone to consolidate commercial ties between Malta and Ethiopia as it will unlock untapped investment opportunities.  During our first visit we are providing Malta-based businesses with insights into the intricacies of conducting business in Ethiopia.  It is encouraging that so many businesses are showing an increasing interest in doing business in this part of the world.

TradeMalta encourages Malta-based companies interested in taking their business across borders to reach out with their ideas and plans and avail themselves of our support and services.  We look forward to offering guidance and resources to materialise their internationalization plans into successful cross-border endeavors’.

TradeMalta is organising the first Malta – Ethiopia business forum in Addis Ababa with key Ethiopian stakeholders. This will be followed by a business-to-business matchmaking session that will provide an opportunity to the Maltese delegation to discuss potential business opportunities.

The post TradeMalta organises its first Trade Mission to Ethiopia first appeared on The Malta Business Weekly.