In November, Malta experienced a reduced goods trade deficit compared to the previous year, as indicated by preliminary data from the National Statistics Office released on Thursday. This improvement resulted from an increase in exports alongside a decrease in imports.
The trade deficit in November contracted to EUR 136.3 million, down from EUR 186.6 million in the same period of 2023. This was a significant improvement from October's deficit of EUR 328.1 million.
The boost in exports, which rose by EUR 10.8 million to a total of EUR 509.0 million, was primarily fueled by heightened sales of commodities, foodstuffs, and chemicals to international markets.
Conversely, imports fell by EUR 39.5 million, bringing the total to EUR 645.3 million. This decline was attributed to a reduced demand for machinery, transport equipment, and chemicals. Over the January to November period, the trade deficit expanded by EUR 382.6 million year-on-year, amounting to EUR 4.234 billion due to imports rising at a faster pace than exports.
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