Malta's trade deficit narrows by €177m as exports surge in first half of 2026
Malta's trade deficit shrank by €177.4 million in H1 2026, driven by a €251.5 million jump in exports, led by machinery and fuel.
Malta's trade deficit narrowed by €177.4 million in the first six months of 2026, reaching €1,910.2 million, according to data published by the NSO.
Imports stood at €4,408.0 million, up €74.1 million compared to the same period in 2025. Exports rose more sharply, by €251.5 million, to €2,497.8 million.
The improvement was largely driven by a surge in exports of machinery and transport equipment, which increased by €150.2 million. Mineral fuels, lubricants and related materials added another €110.1 million, while food exports grew by €22.3 million.
On the import side, the biggest increase came from mineral fuels, lubricants and related materials, up €198.0 million. Miscellaneous manufactured articles rose by €19.3 million and food imports increased by €13.0 million.
These gains were partly offset by lower imports of machinery and transport equipment, down €88.8 million, chemicals, down €37.0 million, and miscellaneous transactions and commodities, down €29.9 million.
For June alone, the trade deficit stood at €321.0 million, with imports at €756.3 million and exports at €435.3 million.
The monthly data showed imports of mineral fuels, lubricants and related materials rising by €22.1 million, while machinery and transport equipment imports fell by €12.5 million. Exports of mineral fuels jumped €42.5 million and machinery exports rose €31.5 million.
The figures are based on provisional register data from traders and customs declarations, with no estimations included for late or non-response.
For Malta's business community, the narrowing deficit signals improving export competitiveness, particularly in machinery and fuel sectors. However, the heavy reliance on fuel imports and exports leaves the trade balance exposed to global energy price volatility.
The data also highlights a structural shift, with machinery and transport equipment becoming a larger share of export growth, which could indicate rising value-added production capacity in Malta's economy.