Malta's economy is dependent on foreign trade and generally runs a trade deficit. In 1998 the export value of Maltese goods was US$1.8 billion, compared with imports of US$2.7 billion. Around 65 percent of the country's imports come from the EU, while 50 percent of its exports go to the EU. However, trade with the United States has increased over the past 8 years. In 1999 Maltese exports to the United States were worth US$422 million and imports from the United States totaled US$240 million.
|Trade (expressed in billions of US$): Malta|
|SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.|
Malta's main export markets are France, which in 2000 received 20.7 percent of Malta's goods, the United States (18.1 percent), Germany (12.6 percent), the United Kingdom (7.7 percent), and Italy (4.8 percent). In 2000 the nation's main import partners are Italy (19.3 percent), France (17.8 percent), the United Kingdom (12.4 percent), Germany (10.5 percent), and the United States (8.9 percent).