Economy of Malta
An overview of key economic indicators. Select a category for detailed trends, charts, and insights.
Explore Economic Domains
Growth & Output
Trade & Finance
Labor & Income
Energy & Environment
Economic Snapshot Overview
A summary of key economic indicators for Malta
- The economic architecture of Malta is substantial, anchored by a Gross Domestic Product (GDP) of approximately $22.33B2023. This places it as the 114th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $40.4K2023, while its GDP in Purchasing Power Parity (PPP) terms is estimated at $35.06B, reflecting the population's domestic purchasing power. The economy is experiencing robust expansion, with a high growth rate of 7.5%2023, accompanied by stable price levels, with inflation (CPI) at 1.7%2024.
- On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country maintains a strong trade surplus, with exports representing 122.8% of GDP and imports 104.7%2023. Foreign Direct Investment (FDI) inflows are significant, constituting 112.63% of the economy2023. This performance positions the country 1st globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $15.37M annually2023, highlighting the economic importance of its diaspora. Fiscal capacity is moderate, with tax revenue at 21.8% of GDP2023.
- The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $34,7502023. Globally, this ranks the nation 30th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 2.7%2024. The services sector is a primary driver of the labor market, accounting for 81.3% of total employment2023. Poverty remains a key issue, with 16.7% of the population living below the national poverty line2021. The country has a relatively equitable distribution of income, with a Gini index of 34.62022.
- On the environment and energy front, energy consumption per capita is 1,455.155 kg of oil equivalent2022. The energy mix is still heavily reliant on traditional sources, with renewables contributing 8.6%2021. Its commitment to clean energy places it 41st among 190 countries for its share of renewable energy consumption.
Key Economic Insights
Macroeconomic Health
The economy is in a "Goldilocks" state of strong growth, low inflation, and low unemployment, indicating robust macroeconomic health.
Trade & Investment Profile
A highly open, export-oriented economy that is deeply integrated into global markets and attractive to foreign capital.
Social Equity & Distribution
Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.
Energy & Sustainability
Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.
Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.