The economy of Malta shrank 6.2% year-on-year in the fourth quarter of 2020, following a downwardly revised 8.8% contraction in the previous three-month period. The services sector (-6.7%) continued to be hit by the ongoing pandemic crisis, in particular accommodation and food service activities (-64.7%); transportation and storage activities (-43.1%); wholesale and retail trade (-9.9%); and administrative and support services activities (-10.7%). Output also shrank for industry (-1%) and agriculture & fishing (-10.7%), while construction expanded 2.9%. In 2020, the economy plunged 7%, compared to a 5.5% growth a year earlier. source: National Statistics Office, Malta
GDP Annual Growth Rate in Malta averaged 3.32 percent from 2001 until 2020, reaching an all time high of 10.50 percent in the second quarter of 2015 and a record low of -16.10 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 May of 2021.
GDP Annual Growth Rate in Malta is expected to be -3.00 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 3.10 percent in 2022, according to our econometric models.