Malta's Economy | Maltese Economy

Economy - overview: Major resources are limestone, a favorable geographic location, and a productive labor force. Malta produces only about 20% of its food needs, has limited fresh water supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism. Continued sluggishness in the European economy is holding back exports, tourism, and overall growth.

GDP: 0.7% (2004)

GDP - real growth rate: 1% (2004 est.)

GDP - per capita: purchasing power parity - $18,200 (2004 est.)

GDP - composition by sector: agriculture: 3% industry: 23% services: 74% (2003 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 160,000 (2002 est.)

Labor force - by occupation: agriculture 5%, industry 24%, services 71% (1999 est.)

Unemployment rate: 7% (2003 est.)

Budget: revenues: $2.27 billion expenditures: $2.549 billion, including capital expenditures of NA (2004 est.)

Industries: tourism; electronics, ship building and repair, construction; food and beverages, textiles, footwear, clothing, tobacco

Industrial production growth rate: NA%

Electricity - production: 2.15 billion kWh (2002)

Electricity - production by source:

Electricity - consumption: 2 billion kWh (2002)

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production: 0 bbl/day (2004 est.)

Oil - consumption: 20,000 bbl/day (2001 est.)

Oil - exports: NA

Oil - imports: NA

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs

Exports: $2.625 billion f.o.b. (2004 est.)

Exports - commodities: machinery and transport equipment, manufactures

Exports - partners: US 15.7%, France 15.5%, Singapore 14.5%, UK 11.2%, Germany 10.8% (2004)

Imports: $3.407 billion f.o.b. (2004 est.)

Imports - commodities: machinery and transport equipment, manufactured and semi-manufactured goods; food, drink, and tobacco

Imports - partners: Italy 25.4%, France 13.1%, UK 12%, Germany 8.9%, US 5.2%, Singapore 4.1% (2004)

Debt - external: $130 million (1997)

Economic aid - recipient: NA

Currency:

Currency code:

Exchange rates: Maltese liri per US dollar - 0.3444 (2004), 0.3773 (2003), 0.4337 (2002), 0.4501 (2001), 0.4382 (2000)

Fiscal year: 1 April - 31 March



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