Malta's economic growth slowed further to 3.4 percent year-on-year in the third quarter of 2019, the slowest rate since the fourth quarter of 2012, from an upwardly revised 4.9 percent in the previous period. Household consumption (2.0 percent vs 2.7 percent in Q2) and government spending (4.0 percent vs 11.3 percent) slowed while fixed investment rebounded (0.2 percent vs -0.5 percent). Meantime, net external demand contributed positively to growth as exports (3.6 percent vs 0.7 percent in Q2) rose much faster than imports (1.0 percent vs -1.1 percent in Q2). GDP Annual Growth Rate in Malta averaged 3.87 percent from 2001 until 2019, reaching an all time high of 11.30 percent in the first quarter of 2015 and a record low of -3.70 percent in the second quarter of 2009.
GDP Annual Growth Rate in Malta is expected to be 4.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Malta to stand at 3.50 in 12 months time. In the long-term, the Malta GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.