Malta Economic Outlook

September 1, 2020

Recently released national accounts data revealed that the economy was pummeled in the second quarter by the Covid-19 fallout, with GDP contracting at a record-breaking 16.2% year-on-year pace (Q1: +1.4% yoy) on suppressed domestic and foreign demand. Both fixed investment and private consumption were decimated as containment measures shut down activity, while exports collapsed amid travel restrictions and the vital tourism industry coming to a halt. Turning to Q3, although economic sentiment continued to improve in both July and August, primarily in the industrial and services sectors, consumers turned more pessimistic in August amid the reintroduction of some restrictions that same month due to a rise in coronavirus infections—hinting at a fragile recovery going forward.

Malta Economic Growth

The blow dealt by the pandemic will plunge the economy into a deep recession this year. Private consumption will suffer amid higher unemployment, while exports will reel as the crucial tourism industry, whose revenues account for nearly a fifth of GDP, gets hammered. Strong fiscal support, however, should help cushion the downturn somewhat. FocusEconomics panelists see GDP contracting 6.1% in 2020, which is down 0.1 percentage points from last month’s forecast, before expanding 6.3% in 2021.

Malta Economy Data

	2015	2016	2017	2018	2019
Population (million)	0.4	0.5	0.5	0.5	0.5
GDP per capita (USD)	24,500	25,556	27,783	30,546	30,536
GDP per capita (EUR)	21,948	23,044	24,613	26,057	27,375
GDP (USD bn)	10.8	11.5	12.8	14.5	14.8
GDP (EUR bn)	9.7	10.4	11.3	12.4	13.3
Economic Growth (GDP, annual variation in %)	10.9	5.8	6.5	7.3	4.7
Consumption (annual variation in %)	5.0	2.6	3.3	7.8	2.9
Investment (annual variation in %)	55.6	-0.2	-7.1	-1.8	6.2
Exports (G&S, annual variation in %)	15.5	4.5	4.8	3.4	2.5
Imports (G&S, annual variation in %)	18.1	1.6	-0.5	3.0	3.0
Industrial Production (annual variation in %)	-0.2	-6.9	8.3	1.6	1.7
Unemployment Rate	5.4	4.7	4.0	3.7	3.4
Fiscal Balance (% of GDP)	-1.0	1.0	3.3	1.9	0.5
Public Debt (% of GDP)	58.0	55.5	50.3	45.6	43.1
Inflation Rate (HICP, annual variation in %, eop)	1.2	1.0	1.3	1.2	1.3
Inflation Rate (HICP, annual variation in %)	1.2	0.9	1.3	1.7	1.5
Inflation (PPI, annual variation in %)	-	-	-	-	-
Policy Interest Rate (%)	-	-	-	-	-
Exchange Rate (vs USD)	-	-	-	-	-
Exchange Rate (vs USD, aop)	-	-	-	-	-
Current Account (% of GDP)	3.6	6.3	12.3	10.6	10.5
Current Account Balance (EUR bn)	0.3	0.4	1.2	1.4	1.3
Trade Balance (EUR billion)	-2.0	-2.0	-1.5	-1.4	-1.6

Sample Report

5 years of Malta economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Malta Facts

	Value	Change	Date
Bond Yield	0.43	3.09 %	Dec 30
Exchange Rate	1.12	0.65 %	Dec 31

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Malta Economic Outlook

Malta Economic Growth

Malta Economy Data

Sample Report

Sample Report

Malta Facts

Request a Trial

Search form

Sign up for our newsletter