That dollar amount results from a -16.3% decrease compared to $4.14 billion 5 years earlier in 2019.
Year over year, Maltese export sales increased by 6.4% starting from $3.26 billion during 2022.
Applying a continental lens, well over half (56.6%) of Malta’s exports by value was delivered to fellow European countries while 25.4% were sold to importers in Asia. Malta shipped another 10% worth of goods to buyers in Africa.
Lesser percentages went to customers in North America (5.2%), Latin America (1.8%) excluding Mexico but including the Caribbean, then Oceania (1%) mostly Australia and New Zealand.
Malta’s Top Trading Partners
Below is a list showcasing 25 of Malta’s top trading partners. That is, countries that imported the most Maltese shipments by dollar value during 2023. Also shown is each import country’s percentage of total Maltese exports.
- Germany: US$931.8 million (26.9% of Malta’s total exports)
- Japan: $207.2 million (6%)
- Italy: $186.4 million (5.4%)
- Hong Kong: $155.1 million (4.5%)
- Singapore: $154.3 million (4.5%)
- United States: $135.5 million (3.9%)
- United Kingdom: $107 million (3.1%)
- Spain: $80.4 million (2.3%)
- Ghana: $75.8 million (2.2%)
- Croatia: $64.7 million (1.9%)
- France: $64.4 million (1.9%)
- Poland: $52.3 million (1.5%)
- Netherlands: $50.7 million (1.5%)
- Argentina: $44.4 million (1.3%)
- Hungary: $42.5 million (1.2%)
- India: $41.9 million (1.2%)
- mainland China: $39.8 million (1.1%)
- Lebanon: $37.9 million (1.1%)
- Tunisia: $36.7 million (1.1%)
- South Korea: $34.1 million (1%)
- Saudi Arabia: $32.9 million (0.9%)
- Switzerland: $32.6 million (0.9%)
- Australia: $32.6 million (0.9%)
- Austria: $32.3 million (0.9%)
- Türkiye: $29.3 million (0.8%)
Nearly four-fifths (78%) of total Maltese exports in 2023 was delivered to the listed Maltese trade partners.
Among Malta’s top customers, the strongest gain from 2022 to 2023 was posted by importers in Croatia (up 2,842%).
Other major gainers include Australia (up 144.1%), Ghana (up 103.3%), Lebanon (up 91%) then Germany (up 69.9%).
The leading decliners from Malta’s top trade partners were France (down -73.9% from 2022), South Korea (down -58%), United Kingdom (down -37.7%), mainland China (down -35.6%), Hungary (down -22.6%) and Türkiye (down -21.5%).
Countries Causing Malta’s Largest Trade Deficits
Malta incurred an overall -US$4.9 billion trade deficit during 2023, reducing by -7.2% from -$5.3 billion in red ink in 2022.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit. It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Malta incurred the highest trade deficits with the following countries.
- Italy: -US$1.7 billion (country-specific trade deficit in 2023)
- France: -$658.2 million
- Spain: -$449.1 million
- Netherlands: -$396.5 million
- mainland China: -$338.8 million
- United Kingdom: -$338.4 million
- India: -$245.2 million
- South Korea: -$195.6 million
- Türkiye: -$182.7 million
- Belgium: -$149.5 million
Among Malta’s trading partners that cause the greatest negative trade balances, Maltese deficits with South Korea (up 178.2%), France (up 108.4%) and the United Kingdom (up 90.8%) grew at the fastest pace from 2022 to 2023.
These cashflow deficiencies clearly indicate Malta’s competitive disadvantages with the above countries, but also represent key opportunities for Malta to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Malta’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Malta generated the highest trade surpluses with the following countries.
- Germany: US$180.4 million (country-specific trade surplus in 2023)
- Hong Kong: $135.6 million
- Singapore: $113.1 million
- Japan: $79.3 million
- Ghana: $75.8 million
- Argentina: $43.4 million
- Lebanon: $34.9 million
- Australia: $28 million
- Nigeria: $27.5 million
- Democratic Republic Congo: $27.3 million
Among Malta’s trading partners that generate the greatest positive trade balances, Malta’s surpluses with the Democratic Republic of the Congo (up 638.2%), Australia (up 260.4%) and Nigeria (up 160%) grew at the fastest pace from 2022 to 2023.
These positive cashflow streams clearly indicate Malta’s competitive advantages with the above countries, but also represent key opportunities for Malta to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Maltese Trading Partners
Given how small Malta is, it should come as no surprise that not one Maltese corporation ranks among Forbes Global 2000.
Wikipedia does list Maltese companies that engage in international trade. Selected examples are shown below:
- Air Malta plc (airliner)
- Emmanuel Delicata (wine)
- Simonds Farsons Cisk plc (beverages including beer)
See also Malta’s Top 10 Exports, Germany’s Top Trading Partners, Italy’s Top Trading Partners, France’s Top Trading Partners and Japan’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook Europe: Malta. Accessed on December 17, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on December 17, 2024
International Trade Centre, Trade Map. Accessed on December 17, 2024
Investopedia, Net Exports Definition. Accessed on December 17, 2024
Wikipedia, List of Companies of Malta. Accessed on December 17, 2024
Wikipedia, Malta. Accessed on December 17, 2024