Trade Flows
In 2024, bilateral trade between Italy and Malta further strengthened, with Italian exports to the archipelago reaching €2.34 billion (an 11.9% increase over 2023) and imports amounting to €347 million (+20.2%). The trade balance, largely favorable to Italy (€1.99 billion), testifies to the solidity of economic relations and the centrality of “Made in Italy” products in the Maltese market.
Main Exported Products
Among the leading sectors, ships and boats stood out, reaching a value of €420 million in 2024, a strong increase compared to the previous year (an increase of over 70%). Also particularly significant were products derived from petroleum refining, which increased from €344 million to over €401 million, supported by Malta’s constant energy demand.
In the durable consumer goods sector, furniture sales increased to €90 million, while other general-purpose machinery sales exceeded €58 million. In the agri-food sector, meat products reached €74 million, while the “other food products” category reached nearly €55 million, confirming Malta’s passion for Italian gastronomic excellence.
Base chemicals and plastics saw a slight increase, from €44 million to €50 million, while beverages stood at around €48 million. Electronic components, on the other hand, declined from €74 million in 2023 to €59 million in 2024, although they remain an important sector for the supply of electronic devices and circuit boards.
Main Imported Products
Regarding Malta’s imports to Italy, ships and boats increased significantly, from approximately €20 million to €72 million. Other segments of interest include medicines and pharmaceutical preparations, which stood at €49 million, and waste, which rose to almost €40 million.
Also noteworthy are the trends in other special-purpose machinery, which rose from €15 million to €22 million, and petroleum refining products, which reached €19 million. In the chemical sector (201), imports of basic chemicals and fertilizers increased from €4 million to over €17 million, confirming a dynamic market for basic materials as well. Other noteworthy sectors include medical and dental instruments and supplies at €15 million, fish and fishery products at €13 million, and “other textile products,” which also reached €13 million.
Post-pandemic economic outlook
According to estimates by the MAECI Economic Observatory, Malta has experienced a sustained economic recovery, with GDP growth of 6% in 2024 and a forecast of 3.1% for 2025. The budget deficit was contained at 3.7%, while public debt remained below 60% of GDP.
The tertiary sector, particularly tourism and financial services, is driving the country’s economy.
Trade (millions of euros)
Year Exports Imports Balance
| 2021
2022 |
1.836
2.095 |
297
321 |
1.540
1.774 |
| 2023 | 2.096 | 289 | 1.807 |
| 2024 | 2.346 | 348 | 1.998 |
Source: Informercatiesteri
Tourism and connections with Italy
In 2024, Malta welcomed over 3 million tourists, with Italians in second place (approximately 616,000 visitors, +11% compared to 2023), after the British and ahead of Germans and French.
Direct air connections between Malta and Italy are operated by Air Malta, ITA Airways, Ryanair, EasyJet, and other airlines, with regular flights from:
• Rome, Milan, Naples, Bologna, Turin, Venice, Bari, Catania, Palermo, and Pisa
Sea connections include:
• Virtu Ferries Catamaran Pozzallo–Malta
• Ragusa Xpress Catamaran Marina di Ragusa–Malta
Maltese Tourism in Italy
In 2024, approximately 300,000 Maltese chose Italy as their main tourist destination, followed by the United Kingdom, Germany, Spain, and France.
Cruise tourism recorded approximately 670,000 cruise passengers, with Italians in third place after the British and Germans.
International Students
In 2024, 80,946 international students attended English language courses in Malta at authorized schools. Italians represent the largest group, with approximately 20,200 (24.9%), followed by French (10.3%) and Germans (10.1%). Women make up 61.3% of students, while those under 16 represent 28.1% of the total.
Tax System
Maltese’s tax regime continues to be attractive to foreign investors, with favorable taxation for businesses. The Maltese authorities confirm compliance with EU and OECD standards, while maintaining national fiscal sovereignty.