Malta

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Malta - In Short.

Overview of Malta

With a civilization that dates back thousands of years, Malta boasts some of the oldest megalithic sites in the world. Situated in the center of the Mediterranean, Malta’s islands have long served as a strategic military asset, with the islands at various times having come under control of the Phoenicians, Carthaginians, Greeks, Romans, Byzantines, Moors, Normans, Sicilians, Spanish, Knights of St. John, and the French. Most recently a British colony (since 1814), Malta gained its independence in 1964 and declared itself a republic ten years later. While under British rule, the island staunchly supported the UK through both world wars. Since about the mid-1980s, the island has transformed itself into a freight transshipment point, a financial center, and a tourist destination while its key industries moved toward more service-oriented activities. Malta became an EU member in May 2004 and began using the euro as currency in 2008.
Value
Country Full Name
Malta
Country Code
MLT
Region
Middle East & North Africa
Income Group
High income
Currency Unit
GDP
14647384608
Population
515332
Land Area
320
Net National Income Per Capita
GDP per Capita (PPP)
42461.25371

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Malta - Economic

Economy of Malta

Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter 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 maintains one of the lowest unemployment rates in Europe, and growth has fully recovered since the 2009 recession. In 2014 through 2016, Malta led the euro zone in growth, expanding more than 4.5% per year.Malta’s services sector continues to grow, with sustained growth in the financial services and online gaming sectors. Advantageous tax schemes remained attractive to foreign investors, though EU discussions of anti-tax avoidance measures have raised concerns among Malta’s financial services and insurance providers, as the measures could have a significant impact on those sectors. The tourism sector also continued to grow, with 2016 showing record-breaking numbers of both air and cruise passenger arrivals.Malta’s GDP growth remains strong and is supported by a strong labor market. 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. Increasingly, other EU and European migrants are relocating to Malta for employment, though wages have remained low compared to other European countries. Inflation remains low.

Unemployment Rate

Inflation Rate

Malta - GDP Composition

GDP Composiiton & Value Added of Malta

Last Updated: Jan, 2021, Updated For 2020.

Malta - GDP, Value Added

Demographics of Malta

most of the population lives on the eastern half of Malta, the largest of the three inhabited islands
Geographic Location

Southern Europe, islands in the Mediterranean Sea, south of Sicily (Italy)

Races

Maltese (descendants of ancient Carthaginians and Phoenicians with strong elements of Italian and other Mediterranean stock)

Languages

Maltese (official) 90.1%, English (official) 6%, multilingual 3%, other 0.9% (2005 est.)

Religion

Roman Catholic (official) more than 90% (2006 est.)

Dependency & Expectancy of Malta

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Malta - Social Media Briefing

Malta - Social Media & Social Commerce

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Politics & Policies of Malta

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

Australia Group, C, CD, CE, EAPC, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (NGOs), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NSG, OAS (observer), OPCW, OSCE, PCA, PFP, Schengen Convention, UN, UNCTAD, UNESCO, UNIDO, Union Latina (observer), UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO

Import of Malta

Export of Malta

Import Destination

Export Destination