Economy
Malta
Budget
revenues
$6.95 billion (2023 est.)
expenditures
$7.966 billion (2023 est.)
Exports
Exports 2022
$23.566 billion (2022 est.)
Exports 2023
$26.647 billion (2023 est.)
Exports 2024
$29.245 billion (2024 est.)
Imports
Imports 2022
$21.406 billion (2022 est.)
Imports 2023
$22.637 billion (2023 est.)
Imports 2024
$24.505 billion (2024 est.)
Industries
tourism, electronics, shipbuilding and repair, construction, food and beverages, pharmaceuticals, footwear, apparel, tobacco, aviation services, financial services, information technology services
Labor force
318,200 (2024 est.)
Public debt
Public debt 2017
50.7% of GDP (2017 est.)
Remittances
Remittances 2022
0.1% of GDP (2022 est.)
Remittances 2023
0.1% of GDP (2023 est.)
Remittances 2024
0.1% of GDP (2024 est.)
Exchange rates
Currency
euros (EUR) per US dollar -
Exchange rates 2020
0.876 (2020 est.)
Exchange rates 2021
0.845 (2021 est.)
Exchange rates 2022
0.95 (2022 est.)
Exchange rates 2023
0.925 (2023 est.)
Exchange rates 2024
0.924 (2024 est.)
Economic overview
a high-income, EU-member European economy; possesses a diversified portfolio; utilizes the euro; reliant on imports for food and energy; features robust tourism, trade, and manufacturing sectors; experiences significant North African immigration; maintains a large welfare system; boasts an educated workforce
Unemployment rate
Unemployment rate 2022
3% (2022 est.)
Unemployment rate 2023
3.2% (2023 est.)
Unemployment rate 2024
2.8% (2024 est.)
Exports - partners
Nigeria 28%, Germany 10%, China 6%, Singapore 5%, Hong Kong 4% (2023)
Imports - partners
Italy 18%, China 10%, Germany 8%, France 7%, Turkey 7% (2023)
Real GDP per capita
Real GDP per capita 2022
$57,800 (2022 est.)
Real GDP per capita 2023
$59,300 (2023 est.)
Real GDP per capita 2024
$60,500 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
4.3% (2022 est.)
Real GDP growth rate 2023
6.8% (2023 est.)
Real GDP growth rate 2024
6% (2024 est.)
Agricultural products
milk, tomatoes, onions, potatoes, chicken, cauliflower/broccoli, cabbages, pork, pumpkins/squash, watermelons (2023)
Exports - commodities
refined petroleum, integrated circuits, packaged medicine, ships, postage stamps/documents (2023)
Imports - commodities
ships, refined petroleum, integrated circuits, aircraft, packaged medicine (2023)
Current account balance
Current account balance 2022
-$167.611 million (2022 est.)
Current account balance 2023
$1.425 billion (2023 est.)
Current account balance 2024
$1.383 billion (2024 est.)
Taxes and other revenues
21.9% (of GDP) (2023 est.)
GDP (official exchange rate)
$24.322 billion (2024 est.)
GDP - composition, by end use
household consumption
46.6% (2024 est.)
government consumption
17.2% (2024 est.)
investment in inventories
0.9% (2024 est.)
investment in fixed capital
17.9% (2024 est.)
exports of goods and services
123.5% (2024 est.)
imports of goods and services
-106.1% (2024 est.)
Population below poverty line
16.7% (2021 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
6.2% (2022 est.)
Inflation rate (consumer prices) 2023
5.1% (2023 est.)
Inflation rate (consumer prices) 2024
1.7% (2024 est.)
Industrial production growth rate
5.6% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$30.689 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$32.774 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$34.731 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
9.6% (2024 est.)
total
7.8% (2024 est.)
female
5.7% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022
$1.199 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$1.223 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$1.418 billion (2024 est.)
GDP - composition, by sector of origin
industry
11.4% (2024 est.)
services
80.8% (2024 est.)
agriculture
0.2% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.7% (2022 est.)
highest 10%
27.7% (2022 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2022
34.6 (2022 est.)