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Malta Economy 2017
https://theodora.com/wfbcurrent/malta/malta_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Malta Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Malta - the smallest economy in the euro zone - produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008.Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. In 2014 and 2015, Malta led the euro zone in growth, expanding by nearly 3.5% each year.Malta’s services sector continued to grow in 2015, with noted increases in the financial services and online gaming sectors. Malta continues to enhance its regulation of the financial services sector, and passed additional legislation in 2014 and 2015 to improve anti-money laundering oversight for financial and gaming activities. Expanding EU discussions of anti-tax avoidance measures, including the “Anti-Tax Avoidance Package” submitted in early 2016, have raised concerns among Malta’s financial services and insurance providers about passage of laws governing EU tax practices, which could have a significant impact on those sectors.Malta’s 2015 GDP growth was bolstered by energy infrastructure investments, and revenue growth is expected to continue, supported by a strong labor market and proceeds from a citizenship by investment program equal to roughly 0.9% of GDP. Malta's geographic position between Europe and North Africa makes it a route for irregular migration. Historically, Malta's fertility rate has been below the EU average, and population growth in recent years has been largely from immigration, increasing pressure on the pension system. The government has implemented new programs, including free childcare, to encourage increased labor participation. The high cost of borrowing and small labor market remain potential constraints to future economic growth.

GDP (purchasing power parity):
$16.32 billion (2016 est.) $15.68 billion (2015 est.) $14.77 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 152
[see also: GDP country ranks ]

GDP (official exchange rate):
$10.46 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2016 est.) 6.2% (2015 est.) 3.5% (2014 est.)
country comparison to the world: 56
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$37,900 (2016 est.) $36,500 (2015 est.) $34,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 44
[see also: GDP - per capita country ranks ]

Gross national saving:
31.8% of GDP (2016 est.) 34.7% of GDP (2015 est.) 21.8% of GDP (2014 est.)
country comparison to the world: 21
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 52.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 135.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -132.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 11.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 87.2% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs

Industries:
tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services

Industrial production growth rate:
5.9% (2015)
country comparison to the world: 30
[see also: Industrial production growth rate country ranks ]

Labor force:
201,600 (2016 est.)
country comparison to the world: 170
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 80% (2015)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.6% (2016 est.) 5.4% (2015 est.)
country comparison to the world: 47
[see also: Unemployment rate country ranks ]

Population below poverty line:
15.9% (2014 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
27.7 (2014) 27.9 (2013)
country comparison to the world: 131
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.288 billion
[see also: Budget revenues country ranks ]
expenditures: $4.401 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
41% of GDP (2016 est.)
country comparison to the world: 36
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.1% of GDP (2016 est.)
country comparison to the world: 53
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
62.6% of GDP (2016 est.) 63.9% of GDP (2015 est.)
note: Malta reports public debt at nominal value outstanding at the end of the year, according to guidelines set out in the Maastricht Treaty for general government gross debt; the data include the following categories of government liabilities (as defined in E
country comparison to the world: 59
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.3% (2016 est.) 1.1% (2015 est.)
country comparison to the world: 86
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
-0.21% (31 December 2015) -0.09% (31 December 2013)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 157
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
2.9% (31 December 2016 est.) 3.4% (31 December 2015 est.)
country comparison to the world: 167
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$14.2 billion (31 December 2016 est.) $12.87 billion (31 December 2015 est.)
note: see entry for the EU for money supply for the entire euro area; the European Central Bank controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating
country comparison to the world: 74
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$18.31 billion (31 December 2016 est.) $17.36 billion (31 December 2015 est.)
country comparison to the world: 92
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$18.28 billion (31 December 2016 est.) $17.58 billion (31 December 2015 est.)
country comparison to the world: 89
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.405 billion (31 December 2015 est.) $3.642 billion (31 December 2014 est.) $4.249 billion (31 December 2013 est.)
country comparison to the world: 88
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$653 million (2016 est.) $962 million (2015 est.)
country comparison to the world: 36
[see also: Current account balance country ranks ]

Exports:
$2.915 billion (2016 est.) $2.956 billion (2015 est.)
country comparison to the world: 128
[see also: Exports country ranks ]

Exports - commodities:
machinery and mechanical appliances; mineral fuels, oils and petroleum products; pharmaceutical products; books and newspapers; aircraft/spacecraft and parts; toys, games, and sports equipment

Exports - partners:
Germany 13.3%, France 10.2%, Hong Kong 7.4%, Singapore 7.3%, UK 6.4%, US 5.8%, Italy 5.6%, Japan 4.7% (2015)

Imports:
$4.479 billion (2016 est.) $4.603 billion (2015 est.)
country comparison to the world: 126
[see also: Imports country ranks ]

Imports - commodities:
mineral fuels, oils and products; electrical machinery; aircraft/spacecraft and parts thereof; machinery and mechanical appliances; plastic and other semi-manufactured goods; vehicles and parts

Imports - partners:
Italy 23%, Netherlands 8.4%, UK 7.5%, Germany 6.8%, Canada 6.1%, China 4.1%, France 4% (2015)

Reserves of foreign exchange and gold:
$537.7 million (31 December 2016 est.) $571.7 million (31 December 2015 est.)
country comparison to the world: 147
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$97.35 billion (31 March 2016 est.) $104.4 billion (31 March 2015 est.)
country comparison to the world: 49
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$164.4 billion (30 June 2015 est.) $158.7 billion (December 31, 2014 est.)
country comparison to the world: 33
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$69.09 billion (31 June 2015 est.) $67.32 billion (30 December 2014 est.)
country comparison to the world: 39
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.9214 (2016 est.) 0.885 (2015 est.) 0.885 (2014 est.) 0.7634 (2013 est.) 0.78 (2012 est.)


NOTE: The information regarding Malta on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malta Economy 2017 information contained here. All suggestions for corrections of any errors about Malta Economy 2017 should be addressed to the CIA.




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