Malta may have very well had one of its biggest monthly trade deficits in history. The trade deficit for May figure just came out today totalling a whopping €492 million. This is just May alone. Last year’s May trade deficit was €346.7 million. The trade deficit in May 2020 was €210 million and in May 2019 was €199 million. In 2018 it was €329.5 million. This deficit may be owed to the increase in energy prices.
On the positive side, exports in May have increased slightly compared to the previous month and last year, but overall are still trending lower to a 10-year time frame.