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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