How large is Malta’s Gross Domestic Product?

• In 2015, Malta’s Gross Domestic Product (GDP) at market prices was 8,796.5 million Euro. 

GDP (market prices / million Euro)
2011	6,879.4
2012	7,217.9
2013	7,650.1
2014	8,084.1
2015	8,796.5

• In 2014, Malta’s GDP per capita in Purchasing Power Standards (PPS), which eliminates differences in price levels between countries, was 84 in relation to the European Union (EU-28).  In 2014, nine EU Member States had an index higher than 100; Luxembourg had the highest index (266) and Bulgaria had the lowest index (47).
• The real GDP growth rate in Malta stood at 6.3% in 2015.

Sources:

Eurostat. http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=tec00001&plugin=1  

 

How large is unemployment in Malta?    

Total Unemployment

• In April 2016, there were approximately 9,000 total unemployed in Malta; the seasonally adjusted unemployment rate was 4.3%.  The monthly unemployment rate has been falling over the period since April 2015. 

Monthly Unemployment Rate (Total Unemployed)
April   2015	January 2016	February 2016	March 2016	April         2016
5.5	5.2	5.0	4.6	4.3

 

• There were 21.224 thousand unemployed men and women in the European Union (EU-28) in April 2016; the EU unemployment rate was 8.7%, down from 9.6% in April 2015.
• The lowest unemployment rates in the EU-28 in April 2016 were experienced in the Czech Republic (4.1%) and Germany (4.2%).  The highest unemployment rates in the EU-28 were experienced in Greece (24.2%, as of February 2016) and Spain (20.1 %).

Youth Unemployment

• The total number of young persons (under 25) unemployed in Malta in April 2016 was 8.9%, down from 11.6% in April 2016.  The total number of unemployed youth was 2,000 young persons.
• In April 2016, 4.235 thousand young persons in the EU-28 were unemployed.  The EU-28 youth unemployment rate was 18.8%, down from 20.7% in April 2015.  In April 2016, the lowest youth employment rates were experienced in Germany (7.0%) and in Malta (8.9 %).  The highest unemployment rates in the EU-28 were experienced in Greece (51.4%, as of February 2016) and Spain (45.0%).

Sources:

Unemployment statistics. (n.d.). Retrieved May 31, 2016, from http://ec.europa.eu/eurostat/statistics-explained/index.php/Unemployment_statistics#Unemployment_trends

 

What is the cost of living in Malta?

• In the Gallup Healthways Global Well-being Index for 2014, Malta ranked 25^th in respect of financial well-being.  In the context of the European Union (EU-28), Malta ranked 11^th, ahead of France and Italy.  The highest ranking EU-28 countries in respect of financial well-being were Sweden (2^nd in the global ranking) and the Netherlands (4^th in the global ranking).
• The cost of living in Malta has historically been lower than in the rest of Europe.  This situation is rapidly changing however.  In the past decade in particular, accommodation costs and the cost of goods and services have increased considerably and significantly outpacing salary increases.  

  Living Costs May 2016	€
  Water (0.33 L bottle)	0.95
  Cappuccino (regular)	1.70
  Foreign beer (0.33 L bottle)	2.00
  3-course meal for 2, mid-range restaurant	50.00
  Monthly rental 3-bedroom apartment (central area)	1,035.90
  Monthly rental 3-bedroom apartment (outside central area)	699.62
  Monthly fee for fitness club (single membership)	49.35
  One-way bus ticket (local transport)	1.50

Sources:

EURES - Cost of living - European Commission. (n.d.). Retrieved May 28, 2016, from https://ec.europa.eu/eures/main.jsp?countryId=MT&acro=living&lang=en&parentId=0Sources:

NUMBEO. (n.d.). Retrieved June 1, 2016, from

http://www.numbeo.com/cost-of-living/country_result.jsp?country=Malta

 

Where do the Maltese work?      

• In 2013, the Maltese labour force by occupation was employed in services (76.4%), industry (22.2%), and agriculture (1.4%).

Sector	Number of Employees*
Wholesale and retail trade, transportation and storage, tourism accommodation and food service industry	50,000
Public administration, defense, education, human health, and social work	47,500
Manufacturing, mining and quarrying, and other industry	27,000
Professional, scientific, technical, administration and support service	12,500
Construction	11,000
Finance and insurance	8,000
Information and communication	7,000
Agriculture, forestry and fishing	2,000
Real estate	1,000
Other services	9,000

*Figures are rounded

Sources:

Malta in Figures 2014 (pdf) - National Statistics Office ... (n.d.). Retrieved May 28, 2016, from http://nso.gov.mt/en/publicatons/Publications_by_Unit/Documents/D2_External_Cooperation_and_Communication/Malta_in_Figures_2014.pdf

 

What is the female participation rate in Malta?      

• The employment rate for women aged 20 to 64 years in Malta in 2014 was just over 50%; the employment rate for men of the same age in 2014 was approximately 80%.   
• In all European Union (EU) Member States, the employment rates for women are lower than the employment rates for men, and there are big variations across the EU.  In 2014, the EU-28 employment rate for women aged 20-64 was 63.5% (compared with 75% for men of the same age). 
• In 2014, Malta, Italy, Greece, the Czech Republic, Romania, Slovakia, Poland, Hungary, Luxembourg, and Ireland exhibited a large gap.  Malta exhibited the largest gap between female and male employment rates in the EU-28 in 2014.

Sources:

Female Labour Market Participation. (n.d.). Retrieved May 29, 2016, from http://ec.europa.eu/europe2020/pdf/themes/2015/labour_market_participation_women_20151126.pdf

 

What are the Parental Leave arrangements in Malta?

Maternity Leave

• In Malta, a pregnant employee can avail of 18 weeks maternity leave (9 weeks pre-natal and 9 weeks post-natal), at full pay (100%) for 14 weeks and weeks at flat rate.  Five weeks post-natal maternity leave is mandatory.
• The current EU legislation mandates 14 weeks minimum maternity leave, 2 of which are mandatory.  Belgium and the United Kingdom (UK) have the highest maternity leave entitlement.  Belgium offers a pregnant employee 58 weeks maternity leave on 90% pay (6 weeks mandatory pre-natal); the UK offers mothers 52 weeks, with 6 weeks on 90% pay, 33 weeks on a flat rate, and the remaining 13 weeks being unpaid (2 weeks mandatory post-natal).

Paternity Leave

• One day paternity leave (known as birth leave) on full pay is available to fathers in Malta. 
• EP amendment 2 Weeks minimum.  Sweden and Finland have the highest paternity leave arrangements in the European Union (EU-28).  Sweden offers fathers 13 weeks paternity leave (15 days paid leave and 75 days non-paid); Finland offers 9 weeks paternity leave.

Sources: http://www.europarl.europa.eu/RegData/etudes/ATAG/2014/545695/EPRS_ATA%282014%29545695_REV1_EN.pdf

 

What does Maltese agriculture produce?

• Agriculture accounts for approximately 47% of the total land surface of the Maltese Islands.  The 2010 Agricultural Census for Malta recorded 12,529 farm holdings, where the average farm holding size in hectares in Malta is was approximately 0.9 hectares.  Just over 8,000 (73%) of all farm holdings were less than one hectare of land.
• In 2012, agriculture as a whole contributed 1.6% to Malta’s Gross Domestic Product (GDP) and 1.3% to its Gross Value Added (GVA).
• Malta’s entire agricultural area has been designated as a Less Favoured Area under the EU Common Agricultural Policy, since 2004.
• The key farm sectors in Malta include annual fruit and vegetable cropping, permanent cropping, indoor dairy, pig, poultry, and rabbit production, and small-scale sheep and goat dairying.  Honey is also a significant Maltese product.  Malta produces only about 20% of its food needs. 

Products	Quantity
Pork	5,920 tonnes
Beef	1,134 tonnes
Broilers	4,115 tonnes
Milk	39,788,000 litres
Eggs	77,256,000
Total marketed vegetables	40.8, 000 tonnes
Total marketed fruit	2.2, 000 tonnes

(2013)

• In 2011, only 0.2% of all Maltese agricultural land was used to grow organic produce.

Sources:

Malta in Figures 2014 (.pdf) - National Statistics Office ... (n.d.). Retrieved May 28, 2016, from http://nso.gov.mt/en/publicatons/Publications_by_Unit/Documents/D2_External_Cooperation_and_Communication/Malta_in_Figures_2014.pdf

Malta’s Rural Development Programme 2014 – 2020.pdf.  Retrieved May 28, 2016, from https://eufunds.gov.mt/en/EU%20Funds%20Programmes/European%20Agricultural%20Fund/Documents/RDP%202014-2020/Malta%27s%20Rural%20Development%20Programme%202014-2020.pdf

and

http://www.maltaenterprise.com/en/foreign-investors/why-malta/selling-points

 

• The services sector is the mainstay of the Maltese economy.  The top five economic sectors in Malta in terms of Gross Added Value (GVA) increase in the period  2005 – 2015 were:

• Financial Services;
• Computer Programming;
• Legal and Accounting;
• Gambling and Betting; and
• Education.

• Malta’s other main economic sectors include tourism, high value added manufacturing, life sciences and pharmaceuticals, the creative arts, and the aviation and maritime sectors.

 

Share of Gross Added Value (%)
Sector	1980	1990	2000	2004	2014
Services	59	65	70	70	81
Industry	38	31	27	28	17
Agriculture	4	4	3	2	2

Sources:

Malta Enterprise (n.d.). Retrieved May 28, 2016, from http://www.maltaenterprise.com/en/foreign-investors/about-malta/facts-figures and

http://www.maltaenterprise.com/en/foreign-investors/why-malta/selling-points

 

How vulnerable is the Maltese economy?

•  Malta’s recent credit ratings suggest that the Maltese economy is comparatively stable.
•  In February, the Fitch Credit rating for Malta was A (stable), the Standard and Poors credit rating was BBB+ (positive) and Moody’s credit rating was A3 (stable).

Sources:

Trading Economics http://www.tradingeconomics.com/country-list/rating

 

What is the extent of poverty in Malta?       

• In 2014, the monetary at-risk-of-poverty rate in Malta was 15.9% (65,987 persons living in private households).  The at-risk-of-poverty rate among persons aged 18 years and under in Malta in 2014 was 24.1%; the rate for persons aged 65 and over was 16.9%. The at-risk-of-poverty or social exclusion rate was 23.8%. 
•  In the European Union (EU-28) in 2014, 17.2% of the population were at risk of poverty and 24.4 % were at-risk-of-poverty or social exclusion.  The highest monetary at-risk-of-poverty rates in the EU-28 were observed in Romania (25.4%), Spain (22.2%) and Greece (22.1%); the lowest monetary at-risk-of-poverty rates were observed in Finland (12.8%), Slovakia (12.6%), Denmark (11.9%), and the Netherlands (11.6%).
•  The at-risk-of-poverty rates between 2013 and 2014 show that the largest increases in the EU-28 were observed in Cyprus, Greece and Spain; the largest decreases were observed in Malta, and in Latvia.
• In 2014, Malta’s GINI ratio on the CIA GINI Index was 27.7 (Eurostat SILC, 2016). The GINI Index measures the degree of inequality in the distribution of family income, where the lower the ratio the more equal is a county’s income distribution. The Gini ratio of the EU-28 in 2014 was 30.9.  Slovenia and the Czech Republic had the lowest ratios of the EU-28 – 25.0 and 25.1, respectively.  Estonia (35.6) and Bulgaria (35.4) had the highest ratios. 

Sources:

Statistics on Income and Living Conditions 2014: Salient ... (n.d.). Retrieved May 28, 2016, from https://nso.gov.mt/en/News_Releases/View_by_Unit/Unit_C1/Living_Conditions_and_Culture_Statistics/Documents/2015/News2015_167.pdf

People at risk of poverty or social exclusion. (n.d.). Retrieved May 28, 2016, from http://ec.europa.eu/eurostat/statistics-explained/index.php/People_at_risk_of_poverty_or_social_exclusion

USA CIA. The World Factbook. (n.d.). Retrieved June 2, 2016, from

https://www.cia.gov/library/publications/the-world-factbook/fields/2172.html