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Malta’s trade in goods recorded a smaller deficit in the first quarter of 2026, according to provisional data released by the National Statistics Office. Between January and March 2026, total imports amounted to €1.76 billion, compared with €1.96 billion in the same period of 2025, marking a decrease of 10.1%. Exports stood at €1.10 billion, down slightly by 1.3% from €1.12 billion one year earlier.

As a result, the trade deficit narrowed from €847.9 million in the first quarter of 2025 to €664.1 million in the first quarter of 2026. This represents an improvement of 21.7%, mainly driven by the stronger reduction in imports compared with exports.

The monthly data for March show a more stable picture. Imports decreased marginally by 0.6%, from €667.7 million in March 2025 to €664.1 million in March 2026. Exports, on the other hand, increased by 9.5%, rising from €369.3 million to €404.5 million. The monthly trade deficit therefore declined from €298.5 million to €259.5 million.

Italy remained Malta’s leading supplier among the countries listed in the NSO tables. In the first quarter of 2026, Malta imported €371.9 million worth of goods from Italy. Although this was lower than the €454.2 million recorded in the same period of 2025, Italy continued to account for a significant share of Malta’s import market.

Trade with Italy remained structurally unbalanced in Italy’s favour. Maltese exports to Italy increased from €57.9 million in the first quarter of 2025 to €65.4 million in the first quarter of 2026. However, Malta still recorded a bilateral trade deficit of €306.5 million with Italy.

By commodity group, the largest import categories included mineral fuels, machinery and transport equipment, chemicals, food, and manufactured goods. Food imports alone reached €185.3 million in the first quarter of 2026, while imports of mineral fuels, lubricants and related materials stood at €431.9 million.

The data confirm Malta’s high dependence on imported goods, especially from European partners. For Italy, the figures highlight the continued relevance of Malta as a nearby export market, particularly for goods linked to consumption, energy, machinery and industrial supply chains.

ARTICLE WRITTEN BY NSO
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