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Malta:
Economy

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Economy - overview
Definition
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 few domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and pharmaceuticals), and tourism. Economic recovery of the European economy has lifted exports, tourism, and overall growth. Malta adopted the euro on 1 January 2008.
GDP (purchasing power parity)
Definition - World rank and map
$9.396 billion (2007 est.)
GDP (official exchange rate)
Definition
$7.419 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
3.8% (2007 est.)
GDP - per capita
Definition - World rank and map
$22,900 (2007 est.)
GDP - composition by sector
Definition
agriculture: 2.7%
industry: 22.3%
services: 74.9% (2003 est.)
Labor force
Definition
164,000 (2006 est.)
Labor force - by occupation
Definition
agriculture: 3%
industry: 22%
services: 75% (2005 est.)
Unemployment rate
Definition - World rank and map
6.3% (2007 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Distribution of family income - Gini index
Definition - World rank and map
28 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
0.7% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
16.9% of GDP (2007 est.)
Budget
Definition
revenues: $3.479 billion
expenditures: $3.549 billion (2007 est.)
Agriculture - products
Definition
potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs
Industries
Definition
tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
2.106 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
1.959 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
4,854.7 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
18,600 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
46.1 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
18,210 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$459 million (2007 est.)
Exports
Definition - World rank and map
$3.278 billion f.o.b. (2007 est.)
Exports - commodities
Definition
machinery and transport equipment, manufactures
Exports - partners
Definition
Singapore 14.4%, Germany 13.7%, France 12.6%, US 11.3%, UK 10%, Hong Kong 6.1%, Japan 4.9%, Italy 4% (2006)
Imports
Definition - World rank and map
$4.113 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transport equipment, manufactured and semi-manufactured goods; food, drink, tobacco
Imports - partners
Definition
Italy 26%, UK 15%, France 9.5%, Germany 8.8%, Singapore 5.2% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$3.694 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$188.8 million (2005)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$4.097 billion (2005)
Economic aid - recipient
Definition
$6.19 million (2004)
Currency (code)
Definition
euro (EUR) as of 1 January 2008; Maltese lira (MTL) before then
Exchange rates
Definition
euros per US dollar - 0.6795 (January 2008), Maltese liri per US dollar - 0.3106 (2007), 0.37 (2006), 0.34578 (2005), 0.34466 (2004), 0.37723 (2003)
Fiscal year
Definition
calendar year


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