Malta registers fourfold deficit of €310m in December 2021 when compared to previous year

A deficit of €310.6 million for registered trade in goods was recorded during December 2021, according to provisional figures released by the National Statistics Office (NSO).

The NSO noted that the deficit for registered trade in goods in the same month but a year ago was €78.2 million.

This means that the trade deficit in December 2021 increased fourfold when compared to December 2020.

Imports amounted to €567.7 million, while exports totalled €257.1 million. This represented an increase of €178.1 million in imports and a decline of €54.3 million in exports over the same month of the previous year.

The rise in the value of imports was primarily due to machinery and transport equipment (€141.2 million) and chemicals (€30.9 million). On the exports side, the main decrease was registered in mineral fuels, lubricants and related materials (€50.8 million), the NSO report said.

Total Trade in Goods: January – December 2021

In 2021, the total trade in goods deficit widened by €1,131.3 million when compared to 2020, reaching €2,959 million. Imports increased by €1,007.3 million, while exports decreased by €124 million, amounting to €6,418.1 million and €3,459.1 million, respectively.

The NSO report said that higher imports were mainly recorded in machinery and transport equipment (€602.4 million), mineral fuels, lubricants and related materials (€155 million), chemicals (€93.4 million), and miscellaneous manufactured articles (€70.3 million).

On the exports side, mineral fuels, lubricants and related materials (€154.9 million), and machinery and transport equipment (€96.9 million) accounted for the main declines, partly offset by an increase in chemicals (€129.8 million), the NSO report said.

Goods were mainly imported from the EU (53.8%) and Asia (17.6%). Similarly, exports were mostly directed to the EU (35.4%) and Asia (19.9%). The main increase and decrease in imports were registered from Italy (€273.3 milion) and China (€57.5 million), respectively.

With regard to exports, the main increase was directed to the UK (€60.9 million), whereas France reported the highest decrease (€85.6 million).