Basic Economic Facts
GDP: (€`000) 5,377,372
GDP per capita: €13,139
Inflation:: 3% (2005)
Major Industries: Tourism, electronics, the Malta Freeport (duty free container trans-shipment port), financial services, the Malta Drydocks.
Major trading partners: UK, Italy, France, USA, Germany, Greece and the Benelux countries.
Malta has traditionally enjoyed high employment, low inflation and consistent (if moderate) GDP growth. There is a substantial, if declining, budget deficit and a deficit in the government’s current account, which is compounded by mounting loan repayments. 49% of the GDP is spent on the Public Sector. Malta joined the Exchange Rate Mechanism in April 2005 and adopted the Euro as its sole currency in January 2008.