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.