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 economy is dependent on foreign trade, manufacturing, and tourism. Malta adopted the euro on 1 January 2008.Malta has weathered the Eurozone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. In 2014 and 2015, Malta led the Eurozone in growth, expanding by nearly 3.5% each year. Also in 2014, the government began promoting public-private partnerships in the healthcare sector to establish Malta as a Mediterranean health hub for medical tourism, reduced residential and commercial energy tariffs by 25%, and implemented a citizenship purchase program to increase government revenue and attract foreign investors.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. The government has implemented new programs, including free child care, to encourage increased labor participation. The high cost of borrowing and small labor market present potential constraints to future economic growth.

GDP (purchasing power parity):
$14.75 billion (2015 est.) $14.26 billion (2014 est.) $13.78 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 154
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.19 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.4% (2015 est.) 3.5% (2014 est.) 2.4% (2013 est.)
country comparison to the world: 88
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$34,700 (2015 est.) $33,500 (2014 est.) $32,400 (2013 est.)
note: data are in 2012 US dollars
country comparison to the world: 52
[see also: GDP - per capita country ranks ]

Gross national saving:
20.6% of GDP (2015 est.) 21% of GDP (2014 est.) 21.3% of GDP (2013 est.)
country comparison to the world: 82
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.3%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 139.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -132.6% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 12.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 85.5% (2013 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
-3.6% (2014)
country comparison to the world: 186
[see also: Industrial production growth rate country ranks ]

Labor force:
197,600 (2015 est.)
country comparison to the world: 171
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 25.7%
[see also: Labor force - by occupation - industry country ranks ]
services: 72.8% (2014)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.4% (2015 est.) 5.9% (2014 est.)
country comparison to the world: 60
[see also: Unemployment rate country ranks ]

Population below poverty line:
15.7% (2013 est.)
[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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
27.9 (2013) 27.1 (2012)
country comparison to the world: 129
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.031 billion
[see also: Budget revenues country ranks ]
expenditures: $4.212 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
43.9% of GDP (2015 est.)
country comparison to the world: 30
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2% of GDP (2015 est.)
country comparison to the world: 73
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
67.2% of GDP (2015 est.) 68.2% of GDP (2014 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: 50
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.2% (2015 est.) 0.3% (2014 est.)
country comparison to the world: 76
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2014) 0.25% (31 December 2013)
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: 145
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.6% (31 December 2015 est.) 4% (31 December 2014 est.)
country comparison to the world: 162
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.257 billion (31 December 2015 est.) $5.44 billion (31 December 2014 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) 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: 96
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$12.94 billion (31 December 2015 est.) $13.24 billion (31 December 2014 est.)
country comparison to the world: 98
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$12.97 billion (31 December 2015 est.) $13.38 billion (31 December 2014 est.)
country comparison to the world: 96
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.631 billion (31 December 2012 est.) $3.424 billion (31 December 2011) $2.399 billion (31 December 2010 est.)
country comparison to the world: 92
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$142 million (2015 est.) $348 million (2014 est.)
country comparison to the world: 47
[see also: Current account balance country ranks ]

Exports:
$2.817 billion (2015 est.) $3.467 billion (2014 est.)
country comparison to the world: 129
[see also: Exports country ranks ]

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:
Germany 20.1%, France 12.8%, Italy 9.3%, Libya 6.7%, UK 6.6% (2014)

Imports:
$4.032 billion (2015 est.) $4.921 billion (2014 est.)
country comparison to the world: 133
[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

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

Reserves of foreign exchange and gold:
$556.3 million (31 December 2015 est.) $619.2 million (31 December 2014 est.)
country comparison to the world: 147
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$122.8 billion (30 December 2014 est.) $117.2 billion (31 December 2013 est.)
country comparison to the world: 48
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$47.34 billion (31 June 2014) $46.35 billion (31 December 2013)
country comparison to the world: 60
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$177.6 billion (31 June 2014 est.) $181.7 billion (31 December 2013)
country comparison to the world: 27
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.89 (2015 est.) 0.75 (2014 est.) 0.76 (2013 est.) 0.78 (2012 est.) 0.72 (2011 est.)