Exports increase by 19% in August, while the goods trade gap falls to €295.7 million
Malta’s trade deficit narrowed significantly in the first eight months of 2026, as exports increased and imports declined, according to provisional figures published by the National Statistics Office (NSO).
The deficit in trade in goods reached €2.84 billion between January and August, down by €624.1 million from the corresponding period last year.
During this period, imports totalled €6.32 billion, a decrease of €152.2 million compared with the first eight months of 2025. Exports, meanwhile, rose by €471.9 million to €3.48 billion.
The figures point to an improvement in Malta’s trade balance, supported by stronger export performance and lower imports across several major commodity groups.
Exports surge in August
In August alone, Malta recorded a provisional trade deficit of €295.7 million, compared with €371.8 million in the same month last year.
Exports increased by €76.9 million year on year to €481.4 million, representing growth of 19%. Imports edged up by just €0.8 million to €777.1 million, an increase of 0.1%.
The stronger export performance was largely driven by mineral fuels, lubricants and related materials, which recorded an increase of €65.1 million. Machinery and transport equipment also contributed, with exports in this category rising by €26.7 million.
These gains were partly offset by a €30.6 million decline in chemical exports.
On the import side, higher purchases of mineral fuels, lubricants and related materials contributed an additional €91.1 million. However, this was partly counterbalanced by decreases in imports of machinery and transport equipment, chemicals and food, which fell by €50.1 million, €36.1 million and €12.7 million respectively.
The August figures suggest that stronger exports, rather than a significant reduction in imports, were the main factor behind the narrower monthly trade deficit.
Machinery and fuels shape trade performance
Developments in machinery, transport equipment and energy-related products played an important role in Malta’s trade performance during the first eight months of the year.
Imports of machinery and transport equipment fell by €390.6 million compared with the same period in 2025. Lower imports of chemicals, down by €56.4 million, and miscellaneous transactions and commodities, down by €29.6 million, also contributed to the overall reduction in imports.
These declines were partly offset by a €291.4 million increase in imports of mineral fuels, lubricants and related materials, alongside a €34.4 million rise in miscellaneous manufactured articles.
On the export side, machinery and transport equipment generated an additional €200 million compared with the first eight months of last year.
Exports of mineral fuels, lubricants and related materials increased by €194.2 million, while miscellaneous manufactured articles recorded a rise of €47.7 million.
The contrasting movements across these categories underline the importance of the composition of Malta’s imports and exports in determining the overall trade balance.
European Union remains Malta’s main trading partner
The European Union continued to account for the largest share of Malta’s merchandise trade during January-August 2026.
Imports from EU member states amounted to €3.76 billion, equivalent to 59.5% of Malta’s total imports. Exports to the bloc reached €1.13 billion, accounting for 32.6% of total exports.
Asia was the second-largest regional trading partner, representing 20.7% of imports and 12.7% of exports.
At country level, Belgium recorded the largest increase in imports, at €102.7 million. France registered the largest decrease, with imports falling by €512.9 million compared with the corresponding period last year.
Germany was the destination recording the largest increase in exports, with a rise of €55.4 million. Exports to Turkey, meanwhile, registered the largest decline, falling by €44.9 million.
These figures highlight the continued importance of European markets to Malta’s external trade, while also illustrating how shifts in individual trading partners can influence the country’s overall trade flows.
Underlying trade deficit also improves
A separate measure published by the NSO excludes mineral fuels, oils and related products, aircraft and spacecraft, and ships and other floating structures.
Under this measure, Malta’s trade deficit stood at €175.2 million in August, down from €211.3 million a year earlier.
Imports within this category totalled €439.6 million, a decrease of 4.3% year on year, while exports rose by 6.5% to €264.4 million.
For January-August, the deficit under this measure narrowed by €340.3 million to €1.72 billion. Imports declined by 2.7% to €3.81 billion, while exports increased by 12.7% to €2.09 billion.
The figures indicate that the improvement in Malta’s trade balance was not limited to the overall headline measure, although the composition of trade remains an important consideration when assessing the underlying trend.
A stronger trade balance
Malta’s goods trade deficit remains substantial, reflecting the fact that the value of imported merchandise continues to exceed that of exports. Nevertheless, the latest figures show a marked improvement compared with 2025.
The €624.1 million reduction in the deficit during the first eight months of the year reflects both a decline in imports and an increase in exports, with machinery and transport equipment and mineral fuels playing a significant role in export growth.
The figures are provisional and may be revised as additional trade data become available.
