According to the latest statistics by the NSO, Maltese exports to Turkey have kept increasing offsetting their decrease to the US. Exports to Turkey have gone up by €66.1 million (up to €122.9 million) and exports to the US went down to €131.4 million for this year until October, with US exports coming €115.6 million less than last year.
Malta’s trade deficit for October came at €286 million and the month recorded a decrease of €110 million in imports and a decrease of €64 million in exports.
Exports readings are coming consistently lower this year, notably with US tariffs affecting exports to the US and also leading to the closure of several factories in Malta. Imports are higher this year in total but the trade deficit for October this year was lower than last year’s at €331.9 million.
The European Union remained Malta’s largest trading partner with up to €4.82 billion of imports amounting up to 61.5% of all imports coming from the EU in the first ten months of the year. Imports are increasing from the Netherlands and decreasing from Italy.
Newsroom
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