The economy of Malta shrank 16.2 percent year-on-year in the second quarter of 2020, the biggest contraction ever due to the coronavirus crisis. It follows an upwardly revised 1.4 percent gain in the first three months of the year. There were widespread contractions across all main sectors of the economy. The services sector fell by 15.7 percent, industry, mainly due to a 100.2 percent plunge in in accommodation and food services as tourism halted.

GDP Annual Growth Rate in Malta averaged 3.59 percent from 2001 until 2020, reaching an all time high of 11.40 percent in the first quarter of 2015 and a record low of -16.20 percent in the second quarter of 2020. This page provides - Malta GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malta GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.

GDP Annual Growth Rate in Malta is expected to be -3.50 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 2.20 percent in 2021 and 3.50 percent in 2022, according to our econometric models.

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Malta GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-16.20 1.40 11.40 -16.20 2001 - 2020 percent Quarterly
2010=100, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-12-06 10:00 AM YoY Q3 3.4% 4.9% 5.5%
2020-02-28 10:00 AM YoY Q4 4.4% 3.0% 4.9%
2020-06-05 09:00 AM YoY Q1 0.5% 4.8% 3.2%
2020-08-28 11:30 AM YoY Q2 -16.2% 1.4% -7.3%
2020-12-07 10:00 AM YoY Q3 -16.2% -3.5%


News Stream
Malta GDP Shrinks at Record 16.2% in Q2
The economy of Malta shrank 16.2 percent year-on-year in the second quarter of 2020, the biggest contraction ever due to the coronavirus crisis. It follows an upwardly revised 1.4 percent gain in the first three months of the year. There were widespread contractions across all main sectors of the economy. The services sector fell by 15.7 percent, industry, mainly due to a 100.2 percent plunge in in accommodation and food services as tourism halted.
2020-08-28
Malta GDP Growth Slows to 9-Year Low
Malta's gross domestic product expanded 0.5 percent year-on-year in the first quarter of 2020, slowing from an upwardly revised 4.8 percent growth in the previous three-month period. That was the weakest pace of expansion since the third quarter of 2011 as the coronavirus pandemic hit activity and demand. There were declines in household consumption and fixed investment, while government spending jumped. In addition, exports and imports both fell.
2020-06-05
Malta GDP Growth Picks Up to 4.4% in Q4
Malta's gross domestic product expanded 4.4 percent in the fourth quarter of 2019, accelerating from a downwardly revised 3.0 percent growth in the previous three-month period. Considering 2019 full year, the economy advanced 4.4 percent, the weakest pace of expansion since 2012.
2020-02-28
Malta GDP Annual Growth Weakest since 2012
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).
2019-12-06

Malta GDP Annual Growth Rate
Malta's economy is dependent on foreign trade (serving as a freight trans-shipment point), manufacturing of electronics and textiles, tourism and financial services as it offers low-cost environment and an advantageous tax regime. On the expenditure side, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (19 percent). Exports of goods and services account for 149 percent while imports account for 143 percent, adding 6 percent of total GDP.