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Malta Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Malta Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 31, 2014

Economy - overview:
Malta - the smallest economy in the euro zone - produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between Europe and North Africa makes it a target for irregular migration, which has strained Malta's political and economic resources. Malta''s fertility rate is below the EU average, and population growth in recent years has largely been from immigration, putting increasing pressure on the pension system. Malta adopted the euro on 1 January 2008. Malta''s economy is dependent on foreign trade, manufacturing, and tourism, and was hurt by the global economic downturn. Malta has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. Malta''s financial services industry has grown in recent years and it has avoided contagion from the European financial crisis, largely because its debt is mostly held domestically and its banks have low exposure to the sovereign debt of peripheral European countries. Malta reduced its deficit below 3 percent of GDP, leading the EU to dismiss its official excessive deficit procedure against Malta in 2012.

GDP (purchasing power parity):
$11.19 billion (2012 est.)
country comparison to the world: 152

$11.08 billion (2011 est.)
$10.88 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$8.632 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2012 est.)
country comparison to the world: 159

1.8% (2011 est.)
3.2% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$26,900 (2012 est.)
country comparison to the world: 56

$26,600 (2011 est.)
$26,300 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
14.3% of GDP (2012 est.)
country comparison to the world: 108

14% of GDP (2011 est.)
13.4% of GDP (2010 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 60%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.2%
investment in fixed capital: 14.8%
investment in inventories: -1.4%
exports of goods and services: 102.5%
imports of goods and services: -96.9%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 1.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.4%
services: 85.1% (2012 est.)

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, aviation services, financial services, information technology services

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
184,500 (2012 est.)
country comparison to the world: 174
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 24.7%
services: 73.9% (2011)

Unemployment rate:
6.4% (2012 est.)
country comparison to the world: 69

6.5% (2011 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
15.4% (2011)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Distribution of family income - Gini index:
27.4 (2011)
country comparison to the world: 124

26 (2007)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.532 billion
[see also: Budget revenues country ranks ]
expenditures: $3.823 billion (2012 est.)

Taxes and other revenues:
40.9% of GDP (2012 est.)
country comparison to the world: 40
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.4% of GDP (2012 est.)
country comparison to the world: 128
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
71.3% of GDP (2012 est.)
country comparison to the world: 34

69.5% of GDP (2011 est.)
note: Malta reports public debt at nominal value outstanding at the end of the year, according to guidelines set out in the Maastricht Treaty for general government gross debt; the data include the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); general government comprises the central government, state government, local government and social security funds
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.4% (2012 est.)
country comparison to the world: 59

2.7% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2011)
country comparison to the world: 127

1.75% (31 December 2010)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.7% (31 December 2012 est.)
country comparison to the world: 161

4.76% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.336 billion (31 December 2012 est.)
country comparison to the world: 97

$5.151 billion (31 December 2011 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the EMU; individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$12.66 billion (31 December 2012 est.)
country comparison to the world: 96

$12.53 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$13.38 billion (31 December 2012 est.)
country comparison to the world: 90

$13.08 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.424 billion (31 December 2011)
country comparison to the world: 96

$2.399 billion (31 December 2010)
$1.982 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$87.6 million (2012 est.)
country comparison to the world: 54

$-83.6 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$4.232 billion (2012 est.)
country comparison to the world: 118

$4.112 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and mechanical appliances; mineral fuels, oils and products; pharmaceutical products; printed books and newspapers; aircraft/spacecraft and parts; toys, games, and sports equipment

Exports - partners:
Germany 14.9%, France 12.3%, Italy 7.2%, UK 5.2%, Libya 5%, Netherlands 4.1% (2012)

Imports:
$5.451 billion (2012 est.)
country comparison to the world: 126

$5.58 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
mineral fuels, oils and products; electrical machinery; aircraft/spacecraft and parts thereof; machinery and mechanical appliances; plastic and other semi-manufactured goods; vehicles and parts thereof

Imports - partners:
Italy 39.2%, UK 7.3%, France 7.3%, Germany 6.4%, Spain 4.1% (2012)

Reserves of foreign exchange and gold:
$704.9 million (31 December 2012 est.)
country comparison to the world: 145

$515.5 million (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$45.77 billion (31 December 2012)
country comparison to the world: 63

$43.16 billion (31 December 2011)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$17.25 billion (31 December 2010)
country comparison to the world: 74

$9.019 billion (31 December 2009)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.213 billion (2010 est.)
country comparison to the world: 79
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar -

0.7752 (2012 est.)
0.7194 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)


NOTE: 1) The information regarding Malta on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malta Economy 2014 information contained here. All suggestions for corrections of any errors about Malta Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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