| Economy | Malta |
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Economy - overview:
|
Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between the EU and Africa makes it a recipient of illegal immigration, which has strained Malta's political and economic resources. The financial services industry has grown in recent years, but is not fully modernized. Malta's economy is dependent on foreign trade, manufacturing - especially electronics and pharmaceuticals - and tourism all of which have been negatively affected by global economic downturn. Malta adopted the euro on 1 January 2008. The Maltese government in 2009 will be challenged to contain the budget deficit, which ballooned in 2008 to about 4.1% of GDP, placing it above the euro zone's 3% maximum. |
GDP (purchasing power parity):
|
$9.801 billion (2008 est.)
$9.695 billion (2007)
$9.329 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$24,200 (2008 est.)
$24,100 (2007 est.)
$23,300 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$8.584 billion (2008 est.) |
GDP - real growth rate:
|
2.5% (2008 est.)
3.9% (2007 est.)
3.2% (2006 est.) |
GDP - composition by sector:
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agriculture: 1.4%
industry: 18%
services: 80.6% (2007 est.) |
Investment (gross fixed):
|
20% of GDP (2008 est.) |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
26 (2007) |
Inflation rate (consumer prices):
|
4.4% (2008 est.) |
Central bank discount rate:
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NA |
Commercial bank prime lending rate:
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6.24% (31 December 2007) |
Stock of money:
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$4.639 billion
note: this figure represents the US dollar value of Maltese liri in circulation prior to Malta joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the EMU; individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders (31 December 2008) |
Stock of money - per capita:
|
11,450 USD per capita |
Stock of quasi money:
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$8.771 billion (31 December 2008 est.) |
Stock of quasi money - per capita:
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21,648 USD per capita |
Stock of domestic credit:
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$10 billion (31 December 2008 est.) |
Stock of domestic credit - per capita:
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24,682 USD per capita |
Labor force:
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173,000 (2008) |
Labor force participation rate:
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42.70 % of population |
Labor force - by occupation:
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agriculture: 2.3%
industry: 29.6%
services: 68% (2005 est.) |
Unemployment rate:
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6.4% (2007) |
Budget:
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revenues: $3.457 billion
expenditures: $3.653 billion (2008 est.) |
Budget revenues per capita:
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8,533 USD per capita |
Public debt:
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void |
Industries:
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tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco |
Industrial production growth rate:
|
NA% |
Electricity - production:
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2.146 billion kWh (2007 est.) |
Electricity - production per capita:
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5,297 kWh per capita |
Electricity - consumption:
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1.85 billion kWh (2006 est.) |
Electricity - consumption - per capita:
|
4,567 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
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0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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18,680 bbl/day (2006 est.) |
Oil - consumption - per capita:
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16.83 bbl/year per capita |
Oil - exports:
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0 bbl/day (2005) |
Oil - imports:
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18,910 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
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potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs |
Current account balance:
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-$538 million (2008 est.) |
Current account balance - per capita:
|
-1,327 USD per capita |
Exports:
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$3.491 billion f.o.b. (2008 est.) |
Exports per capita:
|
8,617 USD per capita |
Exports - commodities:
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machinery and transport equipment, manufactures |
Exports - partners:
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Singapore 14.4%, Germany 13.7%, France 12.6%, US 11.3%, UK 10%, Hong Kong 6.1%, Japan 4.9%, Italy 4% (2007) |
Imports:
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$4.963 billion f.o.b. (2008 est.) |
Imports per capita:
|
12,250 USD per capita |
Imports - commodities:
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machinery and transport equipment, manufactured and semi-manufactured goods; food, drink, tobacco |
Imports - partners:
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Italy 26%, UK 15%, France 9.5%, Germany 8.8%, Singapore 5.2% (2007) |
Reserves of foreign exchange and gold:
|
$4.15 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
10,243 USD per capita |
Debt - external:
|
$188.8 million (2005) |
Debt - external - per capita:
|
466 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
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$5.633 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
13,903 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$6.19 million (2004) |
Economic aid - recipient per capita:
|
16 USD per capita |
Currency (code):
|
euro (EUR) as of 1 January 2008; Maltese lira (MTL) before then |
Exchange rates:
|
euros (EUR) per US dollar - 0.6827 (2008 est.), Maltese liri per US dollar - 0.3106 (2007), 0.37 (2006), 0.34578 (2005), 0.34466 (2004), 0.37723 (2003) |
Fiscal year:
|
calendar year |
|
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