| Date - Field | Malta - Economy - overview |
2009 January
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 beween the EU and Africa makes it a target for illegal immigration, which can strain 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 public spending, which ballooned in 2008 to about 4.1% of GDP placing it above the euro zone's 3% general deficit maximum. |
2008 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and pharmaceuticals), and tourism. Economic recovery of the European economy has lifted exports, tourism, and overall growth. Malta adopted the euro on 1 January 2008. |
2007 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Continued sluggishness in the European economy is holding back exports, tourism, and overall growth. |
2006 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Continued sluggishness in the European economy is holding back exports, tourism, and overall growth. |
2005 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Continued sluggishness in the European economy is holding back exports, tourism, and overall growth. |
2004 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Malta is privatizing state-controlled firms and liberalizing markets in order to prepare for membership in the European Union. The island remains divided politically, however, over the question of joining the EU. Continued sluggishness in the global economy is holding back exports, tourism, and overall growth. |
2003 January
Economy - overview | Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Malta is privatizing state-controlled firms and liberalizing markets in order to prepare for membership in the European Union. The island remains divided politically, however, over the question of joining the EU. Continued sluggishness in the global economy is holding back exports and tourism. |
2002 January
Economy - overview | Major 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. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Malta is privatizing state-controlled firms and liberalizing markets in order to prepare for membership in the European Union and is expected to complete EU accession negotiations in 2002. The island is divided politically, however, over the question of joining the EU. |
2001 January
Economy - overview | Major 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. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Malta is privatizing state-controlled firms and liberalizing markets in order to prepare for membership in the European Union. However, the island is divided politically over the question of joining the EU. The sizable budget deficit remains a key concern. |
2000 January
Economy - overview | Major 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. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism; the state-owned Malta drydocks employs about 3,800 people. In 1999, over 1 million tourists visited the island. Per capita GDP of $13,800 places Malta in the ranks of the less affluent EU countries. The island is divided politically over the question of joining the EU. The sizable budget deficit remains a key concern. |
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This page was last updated on 7 July, 2009 |
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