Overview: Significant resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources. Consequently, the economy is highly dependent on foreign trade and services. Manufacturing and tourism are the largest contributors to the economy. Manufacturing accounts for about 27% of GDP, with the electronics and textile industries major contributors. In 1989 inflation was held to a low 0.9%. Per capita GDP at $5,500 places Malta in the middle-income range of the world's nations.

GDP: $1.9 billion, per capita $5,500 (1988); real growth rate 6.4% (1989)

Inflation rate (consumer prices): 0.9% (1989)

Unemployment rate: 3.7% (1989)

Budget: revenues $1,020 million; expenditures $1,230 million, including capital expenditures of $380 million (1990 est.)

Exports: $866 million (f.o.b., 1989); commodities--clothing, textiles, footwear, ships; partners--Italy 30%, FRG 22%, UK 11%

Imports: $1,328 million (f.o.b., 1989); commodities--food, petroleum, machinery and semimanufactured goods; partners--Italy 30%, UK 16%, FRG 13%, US 4%

External debt: $90 million, medium and long-term (December 1987)

Industrial production: growth rate 19.2% (1989); accounts for 27% of GDP

Electricity: 328,000 kW capacity; 1,110 million kWh produced, 2,990 kWh per capita (1989)

Industries: tourism, electronics, ship repair yard, construction, food manufacturing, textiles, footwear, clothing, beverages, tobacco

Agriculture: accounts for 3% of GDP; overall, 20% self-sufficient; main products--potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers, hogs, poultry, eggs; generally adequate supplies of vegetables, poultry, milk, pork products; seasonal or periodic shortages in grain, animal fodder, fruits, other basic foodstuffs

Economic aid: US commitments, including Ex-Im (FY70-81), $172 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $333 million; OPEC bilateral aid (1979-89), $76 million; Communist countries (1970-88), $48 million

Currency: Maltese lira (plural--liri); 1 Maltese lira (LM) = 100 cents

Exchange rates: Maltese liri (LM) per US$1--0.3004 (January 1991), 0.3172 (1990), 0.3483 (1989), 0.3306 (1988), 0.3451 (1987), 0.3924 (1986), 0.4676 (1985)

Fiscal year: 1 April-31 March

NOTE: The information regarding Malta on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malta Economy 1991 information contained here. All suggestions for corrections of any errors about Malta Economy 1991 should be addressed to the CIA.