FX.co ★ Malta Trade Deficit Narrows Sharply

Malta’s trade deficit narrowed sharply to EUR 157.3 million in January 2026, from EUR 322 million in the same month a year earlier, marking the smallest gap since November 2024. Exports edged down 0.5% year-on-year to EUR 378.2 million, as a steep decline in sales of fuels and lubricants (-42.1%) offset robust increases in industrial supplies (24.2%), capital goods and other goods (94.4%), and consumer goods (18.7%). By destination, shipments to Turkey (-54.4%), the Netherlands (-0.9%), and France (-28.8%) registered notable decreases.

Imports contracted at a much faster rate, falling 23.7% year-on-year to EUR 535.5 million, weighed down by lower purchases across all main categories: consumer goods (-11%), fuels and lubricants (-40%), capital goods and other goods (-14.3%), and industrial supplies (-21.1%). On the origin side, arrivals from Italy (-40%), France (-55.2%), and Germany (-22.2%) posted significant declines.