Issue link: https://maltatoday.uberflip.com/i/1514336
11.01.2024 2 NEWS 11.01.2024 AS at the end of 2022, the Mal- tese economy recorded a net In- ternational Investment Position of €14.1 billion. When compared to the figures recorded in the end of 2021, total foreign assets increased by €36.1 billion in 2022 while total foreign liabilities increased by €36.5 bil- lion in 2022, resulting in an over- all decrease in the net Interna- tional Investment Position (IIP) of €0.4 billion. e level of Malta's total for- eign assets abroad amounted to €561.8 billion as at the end of 2022. Direct Investment accounted for 79.7 per cent while Other In- vestment represented 13.5 per cent of total foreign assets. e increase in Malta's foreign as- sets was driven mainly by a €37.1 billion increase in Direct Invest- ment. At the end of December 2022, Malta's foreign liabilities stood at €547.6 billion. Direct Investment totalled €460.8 billion up from €422.8 bil- lion recorded in December 2021 and accounted for 84.1 per cent of total foreign liabilities. Other Investment represented 12.4 per cent of total foreign lia- bilities and totalled €67.9 billion for the corresponding year. International investment position: 2021-2022 Net International Investment Position Total foreign assets by selected component PROVISIONAL data recorded a total trade in goods deficit of €187.4 million during November, compared to a deficit of €310.6 million in the corresponding month of 2022. Imports amounted to €644.5 million, while exports totalled €457.1 million, rep- resenting drops over the same month of the previous year in both imports and ex- ports of €187.5 million and €64.3 million, respectively. e main decrease in imports was pri- marily due to Machinery and transport equipment (€208.0 million). On the ex- ports side, the main decreases were reg- istered in Food (€52.5 million), Chemicals (€20.3 million) and Machinery and trans- port equipment (€9.4 million), partly off- set by an increase in Mineral fuels, lubri- cants and related materials (€26.3 million). Total trade in goods During the first 11 months of the year, the deficit narrowed by €680.1 million when compared to the corresponding period of 2022, reaching €3,703.8 million. Imports stood at €7,813.9 million where- as exports reached €4,110.1 million, rep- resenting decreases of €851.1 million and €171.0 million, respectively. Lower imports were mainly recorded in Mineral fuels, lubricants and related ma- terials (€466.1 million), Machinery and transport equipment (€433.8 million), and Chemicals (€62.3 million), partly off- set by increases in Food (€76.2 million), and Miscellaneous manufactured articles (€44.2 million). On the exports side, the main decreases were registered in Mineral fuels, lubri- cants and related materials (€184.9 mil- lion), Food (€73.3 million), and Chemicals (€64.8 million). ese were partly offset by an increase in Machinery and trans- port equipment (€150.9 million). Goods were imported mainly from the European Union (54.6 per cent) and Asia (20.6 per cent). Similarly, exports were mostly directed to the European Union (37.6 per cent) and Asia (16.3 per cent). e highest increase in imports was re- corded from Germany (€230.5 million), while imports from Greece registered the largest drop (€252.6 million). Exports to Germany registered the highest increase (€311.2 million), while those to France experienced the largest decrease (€176.4 million). In November, the deficit of trade in goods excluding specific chapters amounted to €132.9 million, compared to a deficit of €32.1 million recorded in the same month of 2022. €187.4 million trade in goods deficit recorded in November Percentage distribution of total Trade in Goods by major commodity group - November 2023