The economy of Malta contracted 1.8% year-on-year in the first quarter of 2021, following an upwardly revised 7.8% decline in output in the previous three-month period. It was the softest contraction recorded since last year’s second quarter, as the economy seems to be recovering from the health crisis. The services sector (-1.6%) continued to shrink, as production remained a fraction of its pre-pandemic levels in activities linked to transportation & storage (-40.5%), accommodation & food services (-66.4%) and wholesales & retail trade (-7.5%). Nevertheless, these variations were partially offset by expansions in recreation & culture (8.5%), public administration (11.0%) and financial & insurance activities (6.7%). Meantime, output was down in industry (-2.1%) and construction (-0.4%) but has increased in agriculture & fishing (4.0%). source: National Statistics Office, Malta

GDP Annual Growth Rate in Malta averaged 3.27 percent from 2001 until 2021, 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 June of 2021.

GDP Annual Growth Rate in Malta is expected to be 13.00 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.

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Malta GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.80 -7.80 10.50 -14.70 2001 - 2021 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-28 11:30 AM Q2 -16.2% 1.4% -7.3%
2020-12-07 10:00 AM Q3 -9.9% -16.1% -8.5%
2021-03-01 10:00 AM Q4 -6.2% -8.8% -5.3%
2021-06-04 09:00 AM Q1 -1.8% -7.8% -3%
2021-08-27 11:30 AM Q2 -1.8%
2021-12-07 10:00 AM Q3


News Stream
Malta GDP Shrinks at Softer 1.8% in Q1
The economy of Malta contracted 1.8% year-on-year in the first quarter of 2021, following an upwardly revised 7.8% decline in output in the previous three-month period. It was the softest contraction recorded since last year’s second quarter, as the economy seems to be recovering from the health crisis. The services sector (-1.6%) continued to shrink, as production remained a fraction of its pre-pandemic levels in activities linked to transportation & storage (-40.5%), accommodation & food services (-66.4%) and wholesales & retail trade (-7.5%). Nevertheless, these variations were partially offset by expansions in recreation & culture (8.5%), public administration (11.0%) and financial & insurance activities (6.7%). Meantime, output was down in industry (-2.1%) and construction (-0.4%) but has increased in agriculture & fishing (4.0%).
2021-06-04
Malta GDP Contracts at Softer 6.2% in Q4
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.
2021-03-01
Malta GDP Shrinks at Softer Pace in Q3
The economy of Malta shrank 9.9 percent year-on-year in the third quarter of 2020, following a record 16.1 percent contraction in the previous period, as the economy gradually recovers from the coronavirus crisis. The services sector continued to decline (-9.1 percent), mainly due to accommodation and food services (-58 percent) and transportation and storage activities (-38 percent). Output also shrank for construction (-1.6 percent) and agriculture & fishing (-5.6 percent) while industry increased (1.5 percent).
2020-12-07
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 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.