The economy of Malta grew 3.1% year-on-year in the first quarter of 2023, down from an upwardly revised 5.2% growth in the previous three-month period. It was the slowest expansion since Q1 of 2021, as gross fixed capital formation declined sharply (-16.5% vs 40.7%), while growth slowed for household spending (3.4% vs 7% in Q4). At the same time, net external demand contributed negatively to the GDP as both exports (-3% vs 1.4%) and imports (-6.6% vs 5.4%) declined. Meanwhile, government spending recovered (1.1% vs -1.4%). source: National Statistics Office, Malta

GDP Annual Growth Rate in Malta averaged 4.00 percent from 2001 until 2023, reaching an all time high of 17.10 percent in the second quarter of 2021 and a record low of -15.20 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 June of 2023.

GDP Annual Growth Rate in Malta is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malta GDP Annual Growth Rate is projected to trend around 3.60 percent in 2024 and 3.50 percent in 2025, according to our econometric models.

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Malta GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-03-01 10:00 AM Q4 4.7% 5.3% 4.7%
2023-05-30 09:00 AM Q1 3.1% 5.2% 4.2%
2023-08-29 09:00 AM Q2 3.1% 3.7%


Related Last Previous Unit Reference
GDP Annual Growth Rate 3.10 5.20 percent Mar 2023
GDP Constant Prices 3610745.00 3663559.00 EUR THO Dec 2022
Gross National Product 3985606.93 4057703.81 EUR THO Dec 2022
Gross Fixed Capital Formation 1038614.00 933490.00 EUR THO Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 5.20 17.10 -15.20 2001 - 2023 percent Quarterly
NSA

News Stream
Malta GDP Expands at Softer 3.1% in Q1
The economy of Malta grew 3.1% year-on-year in the first quarter of 2023, down from an upwardly revised 5.2% growth in the previous three-month period. It was the slowest expansion since Q1 of 2021, as gross fixed capital formation declined sharply (-16.5% vs 40.7%), while growth slowed for household spending (3.4% vs 7% in Q4). At the same time, net external demand contributed negatively to the GDP as both exports (-3% vs 1.4%) and imports (-6.6% vs 5.4%) declined. Meanwhile, government spending recovered (1.1% vs -1.4%).
2023-05-30
Malta Economy Loses Further Steam in Q4
Malta's economic growth cooled to 4.7% year-on-year in the fourth quarter of 2022, from an upwardly revised 5.3% rise in the previous three-month period. It marks the sixth consecutive quarter of slowing growth in Malta's economy as spiking inflation continued to constrain household spending (6.7% vs 8.5% in Q3) and as government spending shrank (-1.6% vs 1.7%). At the same time, net external demand contributed negatively to the GDP as exports (1.6% vs 8.8% in Q3) slowed much faster than imports (5.9% vs 13.3%). Meanwhile, fixed investment continued to rise solidly (42.3% vs 33.5%). The Maltese economy expanded by 6.9% in 2022, down significantly from 11.8% a year before.
2023-03-01
Malta GDP Growth at Over 1-1/2-Year Low in Q3
The economy of Malta advanced by 5.2% year-on-year in the third quarter of 2022, following an upwardly revised 9.4% rise in the previous period. It marks the sixth consecutive quarter of growth but at the weakest pace since the first quarter of 2021, amid a slowdown in household consumption (7.6% vs 13.1% in Q2) and as both government spending (-1.2% vs 13.7%) and private investment (-0.9% vs -7%) decreased. Net external demand contributed positively to growth as exports (10.4% vs 8.2% in Q2) rose faster than imports (10.1% vs 7.2% in Q2).
2022-11-29