Malta Economy 2001

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.

GDP: purchasing power parity - $5.6 billion (2000 est.)

GDP - real growth rate: 3.4% (2000 est.)

GDP - per capita: purchasing power parity - $14,300 (2000 est.)

GDP - composition by sector:
agriculture: 2.8%
industry: 25.5%
services: 71.7% (1999)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 2.5% (2000 est.)

Labor force: 145,901 (1999)

Labor force - by occupation: industry 24%, services 71%, agriculture 5% (1999 est.)

Unemployment rate: 4.5% (3rd Quarter 2000)

Budget:
revenues: $1.6 billion
expenditures: $1.73 billion, including capital expenditures of $265.4 million (1999)

Industries: tourism; electronics, ship building and repair, construction; food and beverages, textiles, footwear, clothing, tobacco

Industrial production growth rate: NA%

Electricity - production: 1.65 billion kWh (1999)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 1.534 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

Agriculture - products: potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs

Exports: $2 billion (f.o.b., 1999)

Exports - commodities: machinery and transport equipment, manufactures

Exports - partners: US 21.4%, France 15.2%, Germany 12.6%, UK 9.3%, Italy 4.9% (1999)

Imports: $2.6 billion (f.o.b., 1999)

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

Imports - partners: France 19.1%, Italy 16.7%, UK 10.9%, Germany 10.0%, US 8.5% (1999)

Debt - external: $130 million (1997)

Economic aid - recipient: $NA

Currency: Maltese lira (MTL)

Currency code: MTL

Exchange rates: Maltese liri per US dollar - 0.4370 (January 2001), 0.4376 (2000), 0.3994 (1999), 0.3885 (1998), 0.3857 (1997), 0.3604 (1996)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Malta on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malta Economy 2001 information contained here. All suggestions for corrections of any errors about Malta Economy 2001 should be addressed to the CIA.