The Republic of Malta is a small, densely populated island nation situated in the Mediterranean Sea, and is a European Union member since May 1, 2004. Malta is considered a freight trans-shipment point, a major banking financial center, and a tourist destination. The EU is Malta’s top trading partner, accounting for around 65 percent of imports and about 48 percent of exports. The United States is Malta’s second largest trading partner outside of the EU. Trade in U.S. goods is actually underreported, since many products are sold through European subsidiaries of U.S. companies. In 2013, the U.S. exported $9.3 million in agriculture, fish and forest products.