Economy in Malta

The Malta Economy relies on shipping and tourism to keep prosperous.

The Malta Economy

The Maltese government has invested heavily in education over recent decades, and the result is a multilingual, highly sought-after, productive labor force. The economy is heavily dependent on foreign trade and acts as a freight distribution and docking point for the region. The financial services sector is also well developed and the country is a key player in crossborder fund administration.

Much of Malta’s manufacturing is focused around the electronics and textiles industries. As you would expect, tourism also plays a key part in the country’s economy. Today, Malta clocks up around 1.2 million tourists per year, which equates to an impressive three tourist visits for every resident.

Malta Economic Statistics 

Real annual growth rate (2015): 5.4%

Per capita income: US$35,900

Inflation rate (2015): 1.2%

Sectors by GDP: services (83.1%), industry (15.5%), agriculture (1.4%)

Exports: (US$3.896 billion): machinery and mechanical appliances; mineral fuels, oils and petroleum products; pharmaceutical products; books and newspapers; aircraft/spacecraft and parts; toys, games, and sports equipment

Major trade markets: Eurozone

Imports: (US$6.669 billion): 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

Major suppliers (2014): Italy 22.8%, US 8.6%, UK 7.4%, Germany 5.9%, Canada 5.6%, Spain 4.6%, Netherlands 4.5%, France 4.4%

Labor force (2015): 186,900

Retire Overseas Now

Sign up for our free daily dispatch Overseas Opportunity Letter and immediately receive our FREE research report on the best places to live and retire overseas today.

Each day you will discover the absolute best places to retire, buy property, and live for less overseas. 

We Value Your Privacy. Guaranteed.

More from Malta...