Malta - Economic Indicators
Economic Overview
Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008. Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It...
| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Private Consumption | 2021 Q1 | 1,364,087 | 1,447,927 | Ths. EUR, NSA | Quarterly |
| Real Private Consumption | 2021 Q1 | 1,295,870 | 1,362,141 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Real Gross Domestic Product | 2021 Q1 | 2,937,046 | 2,943,844 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Nominal Fixed Investment (gross fixed capital formation) | 2021 Q1 | 707,154 | 686,482 | Ths. EUR, NSA | Quarterly |
| Real Government Consumption | 2021 Q1 | 687,504 | 676,473 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Government Consumption | 2021 Q1 | 784,939 | 751,650 | Ths. EUR, NSA | Quarterly |
| Investment | 2021 Q1 | 707,154 | 686,482 | Ths. EUR, NSA | Quarterly |
| Real Fixed Investment (gross fixed capital formation) | 2021 Q1 | 613,705 | 633,941 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Nominal Gross Domestic Product | 2021 Q1 | 3,251,758 | 3,252,182 | Ths. EUR, NSA | Quarterly |
| Real Investment | 2021 Q1 | 671,887 | 655,456 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Price | Reference | Last | Previous | Units | Frequency |
| Consumer Price Index (CPI) | Jun 2021 | 109.66 | 108.19 | Index 2015=100, NSA | Monthly |
| Producer Price Index (PPI) | May 2021 | 110.47 | 109.86 | Index 2015=100, NSA | Monthly |
| Labor | Reference | Last | Previous | Units | Frequency |
| Total Employment | 2021 Q1 | 263,400 | 260,109 | #, NSA | Quarterly |
| Unemployment | 2021 Q1 | 10,516 | 11,886 | #, NSA | Quarterly |
| Labor Force | 2021 Q1 | 273,916 | 271,995 | #, NSA | Quarterly |
| Labor Force Employment | 2021 Q1 | 263,400 | 260,109 | #, NSA | Quarterly |
| Unemployment Rate | Oct 2020 | 1.32 | 1.44 | %, NSA | Monthly |
| Agriculture Employment | 2017 | 2,766 | 2,870 | # | Annual |
| Wage & Salaries | 2010 | 16,575 | 16,901 | EUR, NSA | Annual |
| Trade | Reference | Last | Previous | Units | Frequency |
| Imports of Goods | May 2021 | 552.86 | 541.1 | Euro million, NSA | Monthly |
| Balance of Goods | May 2021 | -346.66 | -254.16 | Euro million, NSA | Monthly |
| Exports of Goods | May 2021 | 206.2 | 286.94 | Euro million, NSA | Monthly |
| Real Exports of Goods and Services | 2021 Q1 | 4,337,843 | 4,204,379 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Exports of Goods and Services | 2021 Q1 | 4,701,706 | 4,567,880 | Ths. EUR, NSA | Quarterly |
| Imports of Goods and Services | 2021 Q1 | 4,349,929 | 4,246,543 | Ths. EUR, NSA | Quarterly |
| Real Imports of Goods and Services | 2021 Q1 | 4,102,816 | 3,999,354 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Real Net Exports | 2021 Q1 | 235,026 | 205,025 | Ths. Ch. 2015 EUR, NSA | Quarterly |
| Net Exports | 2021 Q1 | 351,777 | 321,337 | Ths. EUR, NSA | Quarterly |
| Current Account Balance | 2021 Q1 | -42,631 | -89,845 | Ths. EUR, NSA | Quarterly |
| Government | Reference | Last | Previous | Units | Frequency |
| Outstanding Public Debt | Mar 2021 | 7,295,489 | 7,166,757 | Ths. Euros, NSA | Monthly |
| Government Revenues | Mar 2021 | 212,203 | 407,006 | Euro. Thousands, NSA | Monthly |
| Government Expenditures | Mar 2021 | 450,270 | 410,333 | Euro. Thousands, NSA | Monthly |
| Outstanding Public Debt - Foreign | Mar 2021 | 243,779 | 120,839 | Ths. Euros, NSA | Monthly |
| Gross External Debt | 2020 Q4 | 0 | 0 | USD, NSA | Quarterly |
| Markets | Reference | Last | Previous | Units | Frequency |
| Average Long-term Government Bond | Jun 2021 | 0.5 | 0.53 | % p.a., NSA | Monthly |
| Treasury Bills (over 31 days) | May 2021 | -0.45 | -0.46 | % p.a., NSA | Monthly |
| Money Market Rate | May 2021 | -0.48 | -0.48 | % p.a., NSA | Monthly |
| Stock Market Index | May 2021 | 3,952 | 4,022 | Index, NSA | Monthly |
| Lending Rate | Feb 2013 | 4.69 | 4.72 | % p.a., NSA | Monthly |
| Real Estate | Reference | Last | Previous | Units | Frequency |
| House Price Index | 2020 Q1 | 125.14 | 130.81 | Index 2015=100, NSA | Quarterly |
| Consumer | Reference | Last | Previous | Units | Frequency |
| Consumer Confidence | Jun 2021 | 6 | 8.3 | SA | Monthly |
| Retail Sales | 2021 Q1 | 107.6 | 127.9 | 2010=100 Index, SA | Quarterly |
| Personal Income | 2019 | 34,627 | 33,572 | EUR, NSA | Annual |
| Business | Reference | Last | Previous | Units | Frequency |
| Capacity Utilization | 2021 Q2 | 81.1 | 73.7 | %, SA | Quarterly |
| Business Confidence | Jun 2021 | 8.7 | 9.4 | SA | Monthly |
| Industrial Production | May 2021 | 104.6 | 109 | Index 2015=100, SA | Monthly |
| Change in Inventories | 2021 Q1 | 38,059 | 17,170 | Ths. EUR, NSA | Quarterly |
| Real Change in Inventories | 2009 | -14,743,020 | 40,522,741 | NCU | Annual |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Population | 2020 | 516,100 | 514,564 | # | Annual |
| Deaths | 2018 | 3,688 | 3,571 | #, NSA | Annual |
| Net Migration | 2017 | 4,501 | # | Annual | |
| Death Rate | 2015 | 8 | 7.7 | # per Ths. pop. | Annual |
| Birth Rate | 2013 | 9.5 | # per Ths. pop. | Annual |
Factbook
Background
Background:
With a civilization that dates back thousands of years, Malta boasts some of the oldest megalithic sites in the world. Situated in the center of the Mediterranean, Malta’s islands have long served as a strategic military asset, with the islands at various times having come under control of the Phoenicians, Carthaginians, Greeks, Romans,
Geography
Location:
Southern Europe, islands in the Mediterranean Sea, south of Sicily (Italy)
Geographic coordinates:
35 50 N, 14 35 E
Map references:
Europe
Area:
total: 316 sq km
land: 316 sq km
water: 0 sq km
country comparison to the world: 209
Area - comparative:
slightly less than twice the size of Washington, DC
Land boundaries:
0 km
Coastline:
196.8 km (excludes 56 km for the island of Gozo)
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
continental shelf: 200-m depth or to the depth of exploitation
exclusive fishing zone: 25 nm
Climate:
Mediterranean; mild, rainy winters; hot, dry summers
Terrain:
mostly low, rocky, flat to dissected plains; many coastal cliffs
Elevation:
mean elevation: NA
elevation extremes: lowest point: Mediterranean Sea 0 m
highest point: Ta'Dmejrek on Dingli Cliffs 253 m
Natural resources:
limestone, salt, arable land
Land use:
agricultural land: 32.3%
arable land 28.4%; permanent crops 3.9%; permanent pasture 0%
forest: 0.9%
other: 66.8% (2011 est.)
Irrigated land:
35 sq km (2012)
Population - distribution:
most of the population lives on the eastern half of Malta, the largest of the three inhabited islands
Natural hazards:
occasional droughts
Environment - current issues:
limited natural freshwater resources; increasing reliance on desalination
Environment - international agreements:
party to: Air Pollution, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
the country comprises an archipelago, with only the three largest islands (Malta, Ghawdex or Gozo, and Kemmuna or Comino) inhabited; numerous bays provide good harbors; Malta and Tunisia are discussing the commercial exploitation of the continental shelf between their countries, particularly for oil exploration
People & Society
Population:
416,338 (July 2017 est.)
country comparison to the world: 175
Nationality:
noun: Maltese (singular and plural)
adjective: Maltese
Ethnic groups:
Maltese (descendants of ancient Carthaginians and Phoenicians with strong elements of Italian and other Mediterranean stock)
Languages:
Maltese (official) 90.1%, English (official) 6%, multilingual 3%, other 0.9% (2005 est.)
Religions:
Roman Catholic (official) more than 90% (2006 est.)
Age structure:
0-14 years: 15.04% (male 32,128/female 30,490)
15-24 years: 11.44% (male 24,471/female 23,142)
25-54 years: 39.98% (male 85,158/female 81,303)
55-64 years: 13.98% (male 28,919/female 29,298)
65 years and over: 19.56% (male 36,743/female 44,686) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 48.8
youth dependency ratio: 21.4
elderly dependency ratio: 27.3
potential support ratio: 3.7 (2015 est.)
Median age:
total: 41.8 years
male: 40.8 years
female: 43 years (2017 est.)
country comparison to the world: 36
Population growth rate:
0.26% (2017 est.)
country comparison to the world: 176
Birth rate:
10.1 births/1,000 population (2017 est.)
country comparison to the world: 192
Death rate:
9.4 deaths/1,000 population (2017 est.)
country comparison to the world: 59
Net migration rate:
2 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 47
Population distribution:
most of the population lives on the eastern half of Malta, the largest of the three inhabited islands
Urbanization:
urban population: 95.6% of total population (2017)
rate of urbanization: 0.32% annual rate of change (2015-20 est.)
Major urban areas - population:
VALLETTA (capital) 197,000 (2014)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.06 male(s)/female
25-54 years: 1.05 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.81 male(s)/female
total population: 0.99 male(s)/female (2017 est.)
Mother's mean age at first birth:
26.9 years
note: data refer to the average of the different childbearing ages of first-order births (2010 est.)
Maternal mortality ratio:
9 deaths/100,000 live births (2015 est.)
country comparison to the world: 155
Infant mortality rate:
total: 3.5 deaths/1,000 live births
male: 3.9 deaths/1,000 live births
female: 3.1 deaths/1,000 live births (2017 est.)
country comparison to the world: 203
Life expectancy at birth:
total population: 80.5 years
male: 78.1 years
female: 83 years (2017 est.)
country comparison to the world: 39
Total fertility rate:
1.55 children born/woman (2017 est.)
country comparison to the world: 190
Health expenditures:
9.7% of GDP (2014)
country comparison to the world: 28
Physicians density:
3.91 physicians/1,000 population (2015)
Hospital bed density:
4.7 beds/1,000 population (2014)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.1% (2016 est.)
country comparison to the world: 109
HIV/AIDS - people living with HIV/AIDS:
<500 (2016 est.)
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
28.9% (2016)
country comparison to the world: 28
Education expenditures:
7.2% of GDP (2014)
country comparison to the world: 23
Literacy:
definition: age 15 and over can read and write
total population: 94.4%
male: 93.1%
female: 95.8% (2015 est.)
School life expectancy (primary to tertiary education):
total: 15 years
male: 15 years
female: 15 years (2015)
Unemployment, youth ages 15-24:
total: 11.8%
male: 13.9%
female: 9.4% (2015 est.)
country comparison to the world: 112
Government
Country name:
conventional long form: Republic of Malta
conventional short form: Malta
local long form: Repubblika ta' Malta
local short form: Malta
etymology: the ancient Greeks called the island "Melite" meaning "honey-sweet" from the Greek word "meli" meaning "honey" and referring to the island's honey production
Government type:
parliamentary republic
Capital:
name: Valletta
geographic coordinates: 35 53 N, 14 30 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
68 localities (Il-lokalita); Attard, Balzan, Birgu, Birkirkara, Birzebbuga, Bormla, Dingli, Fgura, Floriana, Fontana, Ghajnsielem, Gharb, Gharghur, Ghasri, Ghaxaq, Gudja, Gzira, Hamrun, Iklin, Imdina, Imgarr, Imqabba, Imsida, Imtarfa, Isla, Kalkara, Kercem, Kirkop, Lija, Luqa, Marsa, Marsaskala, Marsaxlokk, Mellieha, Mosta, Munxar, Nadur, Naxxar, Paola, Pembroke, Pieta, Qala, Qormi, Qrendi, Rabat, Rabat (Ghawdex), Safi, San Giljan/Saint Julian, San Gwann/Saint John, San Lawrenz/Saint Lawrence, Sannat, San Pawl il-Bahar/Saint Paul's Bay, Santa Lucija/Saint Lucia, Santa Venera/Saint Venera, Siggiewi, Sliema, Swieqi, Tarxien, Ta' Xbiex, Valletta, Xaghra, Xewkija, Xghajra, Zabbar, Zebbug, Zebbug (Ghawdex), Zejtun, Zurrieq
Independence:
21 September 1964 (from the UK)
National holiday:
Independence Day, 21 September (1964); Republic Day, 13 December (1974)
Constitution:
history: many previous; latest adopted 21 September 1964
amendments: proposals (Acts of Parliament) require at least two-thirds majority vote by the House of Representatives; passage of "Acts" requires majority vote by referendum, followed by final majority vote by the House and assent by the president of the republic; amended many times, last in 2016 (2017)
Legal system:
mixed legal system of English common law and civil law based on the Roman and Napoleonic civil codes
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Malta
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age (16 in local council elections); universal
Executive branch:
chief of state: President Marie-Louise Coleiro PRECA (since 4 April 2014)
head of government: Prime Minister Joseph MUSCAT (since 11 March 2013)
cabinet: Cabinet appointed by the president on the advice of the prime minister
elections/appointments: president indirectly elected by the House of Representatives for a 5-year term (1-term limit); election last held on 4 April 2014 (next to be held by April 2019); following legislative elections, the leader of the majority party or majority coalition usually appointed prime minister by the president for a 5-year term; deputy prime minister appointed by the president on the advice of the prime minister
election results: Marie-Louise Coleiro PRECA (PL) elected president; House of Representatives vote - unanimous; Joseph MUSCAT (PL) reappointed prime minister
Legislative branch:
description: unicameral House of Representatives or Il-Kamra Tad-Deputati, a component of the Parliament of Malta (normally 65 seats but can include at-large members; members directly elected in 5 multi-seat constituencies by proportional representation vote; members serve 5-year terms); note - the parliament elected in 2013 had 69 seats; an additional two seats were added in 2016 by the Constitutional Court to correct for mistakes made in the 2013 vote-counting process
elections: last held on 3 June 2017 (next to be held in 2022); note - Prime Minister MUSCAT called for early elections amid corruption allegations
election results: percent of vote by party - PL 55.0%, PN 43.7%, other 1.3%; seats by party - PL 37 PN 30; note - PN was awarded two additional seats for a total of 30 in accordance with the proportionality provisions specified in the constitution; PD candidates ran under the PN list
Judicial branch:
highest court(s): Court of Appeal (consists of either 1 or 3 judges); Constitutional Court (consists of 3 judges); Court of Criminal Appeal (consists of either 1 or 3 judges)
judge selection and term of office: Court of Appeal and Constitutional Court judges appointed by the president, usually upon the advice of the prime minister; judges of both courts serve until age 65
subordinate courts: Civil Court (divided into the General Jurisdiction Section, Family Section, and Voluntary Section); Criminal Court; Court of Magistrates; Gozo Courts (for the islands of Gozo and Comino}
Political parties and leaders:
Democratic Party or PD [Anthony BUTTIGIEG]
Labor Party or PL [Joseph MUSCAT]
Nationalist Party or PN [Adrian DELIA]
Political pressure groups and leaders:
Alliance of Liberal Democrats Malta (Alleanza Liberali-Demokratika Malta) or ALDM (for divorce, abortion, gay marriage, women's rights)
Alliance for Change (Alleanza Bidla) (Euro-skeptic)
Together for a Better Environment (Flimkien Ghal-Ambjent Ahjar) or FAA
other: environmental groups
International organization participation:
Australia Group, C, CD, CE, EAPC, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (NGOs), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NSG, OAS (observer), OPCW, OSCE, PCA, PFP, Schengen Convention, UN, UNCTAD, UNESCO, UNIDO, Union Latina (observer), UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Pierre Clive AGIUS (since 2 March 2016)
chancery: 2017 Connecticut Avenue NW, Washington, DC 20008
telephone: [1] (202) 462-3611 through 3612
FAX: [1] (202) 387-5470
Diplomatic representation from the US:
chief of mission: Ambassador G. Kathleen HILL (since 25 February 2016)
embassy: Ta' Qali National Park, Attard, ATD 4000
mailing address: 5800 Valletta Place, Dulles, VA 20189
telephone: [356] 2561 4000
FAX: [356] 2124 3229
Flag description:
two equal vertical bands of white (hoist side) and red; in the upper hoist-side corner is a representation of the George Cross, edged in red; according to legend, the colors are taken from the red and white checkered banner of Count Roger of Sicily who removed a bi-colored corner and granted it to Malta in 1091; an uncontested explanation is that the colors are those of the Knights of Saint John who ruled Malta from 1530 to 1798; in 1942, King George VI of the UK awarded the George Cross to the islanders for their exceptional bravery and gallantry in World War II; since independence in 1964, the George Cross bordered in red has appeared directly on the white field
National symbol(s):
Maltese eight-pointed cross; national colors: red, white
National anthem:
name: "L-Innu Malti" (The Maltese Anthem)
lyrics/music: Dun Karm PSAILA/Robert SAMMUT
note: adopted 1945; written in the form of a prayer
Economy
Economy - overview:
Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008.
Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It maintains one of the lowest unemployment rates in Europe, and growth has fully recovered since the 2009 recession. In 2014 through 2016, Malta led the euro zone in growth, expanding more than 4.5% per year.
Malta’s services sector continues to grow, with sustained growth in the financial services and online gaming sectors. Advantageous tax schemes remained attractive to foreign investors, though EU discussions of anti-tax avoidance measures have raised concerns among Malta’s financial services and insurance providers, as the measures could have a significant impact on those sectors. The tourism sector also continued to grow, with 2016 showing record-breaking numbers of both air and cruise passenger arrivals.
Malta’s GDP growth remains strong and is supported by a strong labor market. The government has implemented new programs, including free childcare, to encourage increased labor participation. The high cost of borrowing and small labor market remain potential constraints to future economic growth. Increasingly, other EU and European migrants are relocating to Malta for employment, though wages have remained low compared to other European countries. Inflation remains low.
GDP (purchasing power parity):
$18.53 billion (2017 est.)
$17.62 billion (2016 est.)
$16.7 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 152
GDP (official exchange rate):
$12.01 billion (2017 est.)
GDP - real growth rate:
5.1% (2017 est.)
5.5% (2016 est.)
7.1% (2015 est.)
country comparison to the world: 39
GDP - per capita (PPP):
$42,500 (2017 est.)
$40,600 (2016 est.)
$38,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 42
Gross national saving:
31.1% of GDP (2017 est.)
31.6% of GDP (2016 est.)
29.9% of GDP (2015 est.)
country comparison to the world: 22
GDP - composition, by end use:
household consumption: 49.1%
government consumption: 16.8%
investment in fixed capital: 23.1%
investment in inventories: -0.8%
exports of goods and services: 145.4%
imports of goods and services: -133.5% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 1.3%
industry: 10.6%
services: 88.1% (2016 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:
-3.3% (2016 est.)
country comparison to the world: 198
Labor force:
206,300 (2017 est.)
country comparison to the world: 169
Labor force - by occupation:
agriculture: 1.6%
industry: 20.7%
services: 77.7% (2016 est.)
Unemployment rate:
4.4% (2017 est.)
4.7% (2016 est.)
country comparison to the world: 59
Population below poverty line:
16.3% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Distribution of family income - Gini index:
28.1 (2015 est.)
27.7 (2014 est.)
country comparison to the world: 139
Budget:
revenues: $4.295 billion
expenditures: $4.354 billion (2017 est.)
Taxes and other revenues:
35.8% of GDP (2017 est.)
country comparison to the world: 52
Budget surplus (+) or deficit (-):
-0.5% of GDP (2017 est.)
country comparison to the world: 45
Public debt:
52.9% of GDP (2017 est.)
56% of GDP (2016 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
country comparison to the world: 92
Fiscal year:
calendar year
Inflation rate (consumer prices):
1.3% (2017 est.)
0.9% (2016 est.)
country comparison to the world: 56
Central bank discount rate:
-0.35% (31 December 2016 est.)
-0.2% (31 December 2015 est.)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 160
Commercial bank prime lending rate:
3% (31 December 2017 est.)
3.1% (31 December 2016 est.)
country comparison to the world: 168
Stock of narrow money:
$14.69 billion (31 December 2017 est.)
$14.56 billion (31 December 2016 est.)
note: see entry for the EU for money supply for the entire euro area; the European Central Bank controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 75
Stock of broad money:
$19.5 billion (31 December 2017 est.)
$19.2 billion (31 December 2016 est.)
country comparison to the world: 91
Stock of domestic credit:
$20.02 billion (31 December 2017 est.)
$19.19 billion (31 December 2016 est.)
country comparison to the world: 92
Market value of publicly traded shares:
$4.632 billion (31 December 2016 est.)
$4.468 billion (31 December 2015 est.)
$3.353 billion (31 December 2014 est.)
country comparison to the world: 87
Current account balance:
$1.075 billion (2017 est.)
$867 million (2016 est.)
country comparison to the world: 37
Exports:
$2.627 billion (2017 est.)
$2.493 billion (2016 est.)
country comparison to the world: 131
Exports - commodities:
machinery and mechanical appliances; mineral fuels, oils and petroleum products; pharmaceutical products; books and newspapers; aircraft/spacecraft and parts; toys, games, and sports equipment
Exports - partners:
US 27.3%, Germany 13.9%, France 8.3%, Singapore 5.6%, Japan 5.2%, Hong Kong 4.3%, Italy 4.2% (2016)
Imports:
$5.191 billion (2017 est.)
$4.643 billion (2016 est.)
country comparison to the world: 122
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
Imports - partners:
Italy 20.9%, Canada 10.4%, Germany 6.3%, UK 5.9%, France 4.4% (2016)
Reserves of foreign exchange and gold:
$671.1 million (31 December 2017 est.)
$677.1 million (31 December 2016 est.)
country comparison to the world: 134
Debt - external:
$90.98 billion (September 2016 est.)
$99.02 billion (31 December 2015 est.)
country comparison to the world: 53
Stock of direct foreign investment - at home:
$166.1 million (1 June 2016 est.)
$155.5 million (1 June 2015 est.)
country comparison to the world: 129
Stock of direct foreign investment - abroad:
$65.49 million (June 2015 est.)
$64.77 million (June 2014 est.)
country comparison to the world: 108
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.89 (2014 est.)
0.76 (2013 est.)
Energy
Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
1.228 billion kWh (2015 est.)
country comparison to the world: 147
Electricity - consumption:
2.103 billion kWh (2015 est.)
country comparison to the world: 142
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 171
Electricity - imports:
1.054 billion kWh (2015 est.)
country comparison to the world: 68
Electricity - installed generating capacity:
670,000 kW (2015 est.)
country comparison to the world: 136
Electricity - from fossil fuels:
88.5% of total installed capacity (2015 est.)
country comparison to the world: 63
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 145
Electricity - from hydroelectric plants:
0% of total installed capacity (2015 est.)
country comparison to the world: 188
Electricity - from other renewable sources:
12.7% of total installed capacity (2015 est.)
country comparison to the world: 59
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 172
Crude oil - exports:
0 bbl/day (2014 est.)
country comparison to the world: 165
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 163
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 170
Refined petroleum products - production:
0 bbl/day (2016 est.)
country comparison to the world: 177
Refined petroleum products - consumption:
42,000 bbl/day (2015 est.)
country comparison to the world: 113
Refined petroleum products - exports:
4,031 bbl/day (2014 est.)
country comparison to the world: 99
Refined petroleum products - imports:
43,950 bbl/day (2014 est.)
country comparison to the world: 90
Natural gas - production:
0 cu m (2016 est.)
country comparison to the world: 172
Natural gas - consumption:
0 cu m (2014 est.)
country comparison to the world: 211
Natural gas - exports:
0 cu m (2014 est.)
country comparison to the world: 153
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 158
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 174
Carbon dioxide emissions from consumption of energy:
887,700 Mt (2014 est.)
country comparison to the world: 168
Communications
Telephones - fixed lines:
total subscriptions: 234,368
subscriptions per 100 inhabitants: 56 (July 2016 est.)
country comparison to the world: 123
Telephones - mobile cellular:
total: 532,136
subscriptions per 100 inhabitants: 128 (July 2016 est.)
country comparison to the world: 170
Telephone system:
general assessment: automatic system featuring submarine cable and microwave radio relay between islands
domestic: combined fixed-line and mobile-cellular subscribership exceeds 185 per 100 persons
international: country code - 356; submarine cable connects to Italy; satellite earth station - 1 Intelsat (Atlantic Ocean) (2016)
Broadcast media:
2 publicly owned TV stations, Television Malta broadcasting nationally plus an educational channel; several privately owned national television stations, 2 of which are owned by political parties; Italian and British broadcast programs are available; multi-channel cable and satellite TV services are available; publicly owned radio broadcaster operates 3 stations; roughly 20 commercial radio stations (2017)
Internet country code:
.mt
Internet users:
total: 320,902
percent of population: 77.3% (July 2016 est.)
country comparison to the world: 158
Transportation
National air transport system:
number of registered air carriers: 9
inventory of registered aircraft operated by air carriers: 28
annual passenger traffic on registered air carriers: 1,583,046
annual freight traffic on registered air carriers: 3.352 million mt-km (2015)
Civil aircraft registration country code prefix:
9H (2016)
Airports:
1 (2013)
country comparison to the world: 225
Airports - with paved runways:
total: 1
over 3,047 m: 1 (2017)
Heliports:
2 (2013)
Roadways:
total: 3,096 km
paved: 2,704 km
unpaved: 392 km (2008)
country comparison to the world: 164
Merchant marine:
total: 2,170
by type: bulk carrier 660, container ship 285, general cargo 317, oil tanker 330, other 578 (2017)
country comparison to the world: 11
Ports and terminals:
major seaport(s): Marsaxlokk (Malta Freeport), Valletta
container port(s) (TEUs): Marsaxlokk (2,360,000)
Military & Security
Military expenditures:
0.53% of GDP (2016)
0.5% of GDP (2015)
0.51% of GDP (2014)
0.53% of GDP (2013)
0.54% of GDP (2012)
country comparison to the world: 143
Military branches:
Armed Forces of Malta (AFM, includes land, maritime, and air elements) (2017)
Military service age and obligation:
18 years of age for voluntary military service; no conscription (2017)
Transnational Issues
Disputes - international:
none
Illicit drugs:
minor transshipment point for hashish from North Africa to Western Europe
