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Trade with Commonwealth Countries increases

Malta’s trade with the Commonwealth countries rose to a total of €1.2 billion euro in 2013, an increase of €0.7 million from the 2012 level.

Both imports and exports contributed to this increase. Imports from Commonwealth states at €680.3 million surpassed exports by €182.6 million. In 2012, the trade balance in favour of all Commonwealth countries stood at €190.3 million.

Imports from all Commonwealth countries in 2013 represented 15.3% of all imports. At €497.7 million, sales of goods from Malta to the same countries made up 12.9% of all exports.  

In 2013, the UK retained its position as the major import partner with 44% of all imports from Commonwealth countries emanating from the British market. Canada, India and Singapore, Malaysia and South Africa were the next biggest sources of imports from the Commonwealth countries.

As far as exports are concerned, Singapore represents Malta’s major export commonwealth market with sales to this country representing 55% of the island’s exports. Other export products were mainly despatched to the UK, India and Canada followed by Nigeria, South Africa, New Zealand and various African countries.

Commonwealth developing countries are becoming increasingly important as export destinations which include the dynamic emerging markets of Singapore, India, Malaysia and South Africa. It is clear that there is a lot of still untapped trade potential in the emerging Commonwealth markets especially those in Africa and Asia.

Table 1: Malta's Trade with Commonwealth Countries in 2012 and 2013
 
Country
Imports 2012
(EUR)
Exports 2012
(EUR)
Imports 2013
(EUR)
Exports 2013
(EUR)
America
Canada
56,726,236
26,802,867
103,745,784
27,682,975
Others*
8,425,950
114,464
151,582
4,736,468
 
 
 
 
 
 
Europe
United Kingdom
359,430,293
124,073,419
300,743,839
107,386,251
Cyprus
9,710,811
2,026,208
6,503,625
     1,394,748
 
 
 
 
 
 
Asia
Singapore
76,879,145
246,587,257
80,805,219
272,157,715
India
74,619,701
15,001,095
86,922,035
  31,491,020
Malaysia
13,973,747
1,418,005
17,643,555
      488,742
Others*
3,465,069
10,446,669
1,292,104
   3,773,239
 
 
 
 
 
 
Pacific
Australia
30,575,289
3,971,315
12,305,169
8,109,328
New Zealand
3,333,466
886,114
5,555,024
1,084,613
Others*
433,399
1,391,961
147,058
552,871
 
 
 
 
 
 
Africa
Nigeria
34,836
53,451,844**
134,576
7,890,889
South Africa
1,993,472
3,253,993
13,314,695
4,701,519
Kenya
287,523
477,781
181,292
775,632
Others*
3,212,597
24,617,018
50,437,983***
25,327,980
 
 
 
 
 
 
Caribbean
Trinidad and Tobago
52,667
122,952
52,455
67,798
Jamaica
-
3,227
1,122
22,544
Others*
8,667,916
325,235
323,767
1, 594,618
 
 
 
 
 
 
 
Total
651,822,117
461,519,580
680,260,664
497,664,322
Source: National Statistics Office
* Others are - America: Belize, Guyana; Asia: Bangladesh, Brunei, Maldives, Pakistan, Sri Lanka; Pacific: Fiji, Kiribati, Nauru, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu; Africa: Botswana, Cameroon, Gambia, Ghana, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, Sierra Leone, Swaziland, Uganda, United Republic of Tanzania, Zambia; Caribbean: Antigua and Barbuda, Bahamas, Barbados, Dominica, Grenada, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines.
** Out of which €46,356,608 represent re-exports of mineral fuels.
*** Out of which imports of €46.4 million represent mineral fuels from Cameroon
 
 Table 2: Share of Commonwealth and EU Trade in Total Malta’s  Trade in 2012 and 2013
 
Imports 2012
(EUR million)
Exports 2012
(EUR million)
Imports 2013
(EUR million)
Exports 2013
(EUR million)
Malta’s trade with Commonwealth countries
651.8
461.5
680.3
   497.7
Malta’s trade with EU countries
3,946.0
1,295.8
3,208.3
1,215.1
Malta’s total trade with All countries
6,183.3
5,601.0
       4,438.6
3,844.8
Share of Commonwealth trade in Malta’s Total trade
16.5
8.2
15.3
12.9
Share of EU in Malta’s Total trade
63.8
23.1
72.2
31.3