Malta’s import growth highest in EU

Malta’s imports between January and June this year reached €2.8 billion, a massive 37% increase from the corresponding period last year.

Eurostat figures show that Malta’s import rate increase was by far the highest out of all EU countries, followed only by the United Kingdom and Ireland (both 12%).

During the same period, exports from Malta were worth €1.2 billion, a 16% increase from the corresponding period last year. This was due to a significant rise in exports to non-European countries, which rose by 33% - the second-highest rate out of all EU countries, behind only Cyprus (48%). Conversely, exports to EU countries dropped slightly by 2%.

Malta’s trade balance between January and June this year therefore stood at -1.6%, a 0.6% decline when compared to the corresponding period last year.