Countries
Malta
Key Economic Indicators
$39.74 billion
$69,864
6.8%
1.65%
2.9%
$24.322 billion (2024 est.)
<strong>note:</strong> Malta reports public debt at nominal value outstanding at
$1.78 billion
Economic Overview
high-income, EU-member European economy; diversified portfolio; euro user; dependent on food and energy imports; strong tourism, trade, and manufacturing sectors; high North African immigration; large welfare system; educated workforce
All Economic Data
Agricultural products
milk, tomatoes, onions, potatoes, chicken, cauliflower/broccoli, cabbages, pork, pumpkins/squash, watermelons (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$7.966 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$6.95 billion (2023 est.)
Currency
code:
EUR
name:
euro (EUR) [€]
Current account balance
$1.78 billion
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.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
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.)
Exports
$29.59 billion
Exports 2022:
$23.566 billion (2022 est.)
Exports 2023:
$26.647 billion (2023 est.)
Exports 2024:
$29.245 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
refined petroleum, integrated circuits, packaged medicine, ships, postage stamps/documents (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Nigeria 28%, Germany 10%, China 6%, Singapore 5%, Hong Kong 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$42.59 billion
GDP - composition, by end use
Exports of goods and services:
123.5% (2024 est.)
Government consumption:
17.2% (2024 est.)
Household consumption:
46.6% (2024 est.)
Imports of goods and services:
-106.1% (2024 est.)
Investment in fixed capital:
17.9% (2024 est.)
Investment in inventories:
0.9% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
0.2% (2024 est.)
Industry:
11.4% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
80.8% (2024 est.)
GDP (official exchange rate)
$24.322 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$43,899
Gini Index coefficient - distribution of family income
28.7 (2018)
Gini Index coefficient - distribution of family income 2022:
34.6 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$21.93 billion
GNI per capita
$36,730
Gross domestic investment
19 % of GDP
Household income or consumption by percentage share
Highest 10%:
27.7% (2022 est.)
Lowest 10%:
2.7% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$24.89 billion
Imports 2022:
$21.406 billion (2022 est.)
Imports 2023:
$22.637 billion (2023 est.)
Imports 2024:
$24.505 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
ships, refined petroleum, integrated circuits, aircraft, packaged medicine (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Italy 18%, China 10%, Germany 8%, France 7%, Turkey 7% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
5.6% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services
Inflation rate (consumer prices)
1.65%
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.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
318,200 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
319,715 persons
Labor force - by occupation
agriculture:
0.88%
industry:
17.74%
services:
81.39%
Population below poverty line
16.7% (2021 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<strong>note:</strong> 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, state, and local governments, and socia
Public debt 2017:
50.7% of GDP (2017 est.)
Real GDP (purchasing power parity)
$39.74 billion
Note:
<b>note:</b> data in 2021 dollars
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.)
Real GDP growth rate
6.8%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
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.)
Real GDP per capita
$69,864
Note:
<b>note:</b> data in 2021 dollars
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.)
Remittances
$15.66 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.1% of GDP (2022 est.)
Remittances 2023:
0.1% of GDP (2023 est.)
Remittances 2024:
0.1% of GDP (2024 est.)
Reserves of foreign exchange and gold
$1.42 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
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.)
Revenue (excl grants)
31 % of GDP
Tax revenue
21 % of GDP
Taxes and other revenues
21.9% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
2.9%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
3% (2022 est.)
Unemployment rate 2023:
3.2% (2023 est.)
Unemployment rate 2024:
2.8% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
5.7% (2024 est.)
Male:
9.6% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
7.8% (2024 est.)
World Bank Indicators
Currency
euro (EUR) (2025)
Gini Index
28.70 (2018)
Languages
English, Maltese (2025)
Economic Rankings
GDP per Capita
#24
GDP Growth Rate
#49
Exports
#80
Imports
#88
Gini Index
#116
GDP (Nominal)
#118
Reserves
#135
Inflation Rate
#136
GDP (PPP)
#138
Unemployment Rate
#144
Quick Facts
Industries
tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services
Agricultural products
milk, tomatoes, onions, potatoes, chicken, cauliflower/broccoli, cabbages, pork, pumpkins/squash, watermelons (2023)
Labor force
318,200 (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)
Exchange rates
euros (EUR) per US dollar -
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