MALTA

COUNTRIES A-Z

Malta Economy

Country Name: Republic of Malta

Capital City: Valletta

Population: 400,214 (2006)

Population Growth: 0.42% (2006)

Currency: Maltese lira (MTL)

Languages: Maltese, English

Area: 316 sq km

Inflation Rate: 2.6% (2006 est.)

Unemployment Rate: 7.8% (2005)

Domain extension: .mt

ECONOMIC DETAILS OF MALTA

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. Continued sluggishness in the European economy is holding back exports, tourism, and overall growth.

GDP - purchasing power parity:

$8.411 billion (2006 est.)

GDP - real growth rate:

2.4% (2006 est.)

GDP - per capita:

$21,000 (2006 est.)

GDP - by sector (agriculture):

agriculture: 3%

GDP - by sector (industry):

industry: 23%

GDP - by sector (services):

services: 74% (2003 est.)

Export Partners:

France 15.3%, Singapore 13.2%, US 13%, Germany 12.5%, UK 9.5%, Japan 4.9%, Hong Kong 4.2% (2006)

Import Partners:

Italy 28%, UK 10.5%, France 8.7%, Germany 7.6%, Singapore 6.8%, US 5.6% (2006)

Export Commodities:

machinery and transport equipment, manufactures

Import Commodities:

machinery and transport equipment, manufactured and semi-manufactured goods; food, drink, tobacco

Exports Volume:

$2.425 billion f.o.b. (2006 est.)

Imports Volume:

$4.077 billion f.o.b. (2006 est.)

Labour Force:

164,000 (2006 est.)

Unemployment Rate:

6.8% (2005 est.)

Population below poverty line:

NA%

Inflation Rate:

2.6% (2006 est.)

Investment (gross fixed):

25.1% of GDP (2006 est.)

Public Debt:

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

Industrial Production Growth Rate:

NA%

Electricity - production:

2.291 billion kWh (2004)

Electricity - consumption:

2.13 billion kWh (2004)

Electricity - exports:

0 kWh (2004)

Electricity - imports:

0 kWh (2004)

Oil - production:

0 bbl/day (2004 est.)

Oil - consumption:

19,000 bbl/day (2004 est.)

Oil - exports:

NA bbl/day

Oil - imports:

NA bbl/day

Natural gas - production:

0 cu m (2004 est.)

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Current Account Balance:

-$966.2 million (2006 est.)

Currency Code:

Maltese lira (MTL)