That dollar amount results from a 2.3% upturn compared to $3.2 billion five years earlier in 2018.
Year over year, Maltese export sales increased by 6.5% starting from $3.1 billion during 2021.
Applying a continental lens, over half (52.5%) of Malta’s exports by value was delivered to fellow European countries while 32% was sold to importers in Asia. Malta shipped another 7.8% worth of goods to Africa.
Lesser percentages went to buyers in North America (5.6%), Latin America (1.5%) excluding Mexico but including the Caribbean, then Oceania (0.5%) led by 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 2022. Also shown is each import country’s percentage of total Maltese exports.
- Germany: US$549.1 million (16.8% of Malta’s total exports)
- Japan: $250.1 million (7.7%)
- France: $246.7 million (7.5%)
- Italy: $181.6 million (5.6%)
- Singapore: $171.9 million (5.3%)
- United Kingdom: $171.8 million (5.3%)
- Hong Kong: $170.8 million (5.2%)
- United States: $143.3 million (4.4%)
- South Korea: $81.3 million (2.5%)
- Spain: $67.2 million (2.1%)
- China: $61.9 million (1.9%)
- Poland: $58.1 million (1.8%)
- Hungary: $54.9 million (1.7%)
- Netherlands: $47.6 million (1.5%)
- Greece: $46.6 million (1.4%)
- Ghana: $37.3 million (1.1%)
- Türkiye: $37.3 million (1.1%)
- Libya: $37 million (1.1%)
- Saudi Arabia: $30.8 million (0.9%)
- Sudan: $30.5 million (0.9%)
- Austria: $30.3 million (0.9%)
- Argentina: $29.1 million (0.9%)
- Tunisia: $28 million (0.9%)
- India: $26.8 million (0.8%)
- Qatar: $25.7 million (0.8%)
Four-fifths (80%) of total Maltese exports in 2022 was delivered to the listed Maltese trade partners.
Among Malta’s top customers, the strongest gain from 2021 to 2022 was posted by importers in Argentina (up 582,580%).
Other major gainers include Qatar (up 200.1%), Spain (up 53.7%), Austria (up 45.9%), Japan (up 44.7%) then the United Kingdom (up 41.1%).
The leading decliners from Malta’s top trade partners were Sudan (down -42.7% from 2021), India (down -34.9%), Greece (down -28.7%), Hungary (down -27.5%), Italy (down -22.2%) and Tunisia (down -22%).
Countries Causing Malta’s Largest Trade Deficits
Overall, Malta incurred a -US$5.3 billion trade deficit during 2022, expanding by 30% from -$4.1 billion in 2021.
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 2022)
- Canada: -$791.6 million
- Spain: -$416.6 million
- Greece: -$373.5 million
- Netherlands: -$333.7 million
- China: -$325.4 million
- France: -$315.9 million
- Ireland: -$276.1 million
- Cayman Islands: -$218.6 million
- United Kingdom: -$177.7 million
Among Malta’s trading partners that cause the greatest negative trade balances, Maltese deficits with Cayman Islands (up 1,041%), Greece (up 170.8%) and Canada (up 80.3%) grew at the fastest pace from 2021 to 2022.
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.
- Japan: US$167.3 million (country-specific trade surplus in 2022)
- Hong Kong: $153.1 million
- Germany: $113.4 million
- Singapore: $102.4 million
- Hungary: $39.3 million
- Ghana: $37.3 million
- Sudan: $30.5 million
- Argentina: $27.3 million
- Qatar: $24.7 million
- Lebanon: $19 million
Among Malta’s trading partners that generate the greatest positive trade balances, Maltese surpluses with Lebanon (up 5,037%), Qatar (up 223.8%) and Germany (up 149%) grew at the fastest pace from 2021 to 2022.
In addition, Malta reversed a -$2.2 million deficit trading with Argentina in 2021 to post the surplus for 2022 listed above.
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 October 27, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 27, 2023
International Trade Centre, Trade Map. Accessed on October 27, 2023
Investopedia, Net Exports Definition. Accessed on October 27, 2023
Wikipedia, List of Companies of Malta. Accessed on October 27, 2023
Wikipedia, Malta. Accessed on October 27, 2023