Malta Balance of Trade
Malta recorded a trade deficit of 175600 EUR Thousand in November of 2012. Balance of Trade in Malta is reported by the Central Bank of Malta. Historically, from 1996 until 2012, Malta Balance of Trade averaged -92179.98 EUR Thousand reaching an all time high of -7900 EUR Thousand in December of 2002 and a record low of -426200 EUR Thousand in July of 2012. Malta enjoys a favorable geographic position and large deposits of limestone, which contribute to the strength its export sector. As an island, Malta produces only around 20% of its food necessities, has limited access to fresh water and lacks energy sources. Due to this mix of factors, the economy of Malta is very dependent on foreign trade. Malta mostly exports electrical machinery, mechanical appliances, fish and crustaceans, pharmaceutical producuts and printed material. On the other hand, Malta is a net importer of mineral fuels and oils, non-electrical machinery, aircraft and other transport equipment, plastic and other semi-manufactured goods, food, drink and tobacco. Malta adopted the Euro in 2008, highlighting the status of the European Union as its most important trading partner, having vast trade flows specifically with Italy, the United Kingdom, Germany and France. This page includes a chart with historical data for Balance of Trade in Malta.