Malta Economy Overview
The economy of the island country of Malta is ranked number 125 in the world in terms of its GDP of $14.6 billion. Annual imports amount to $14.8 billion and exports to $4.74 billion, indicating a negative trade balance of -$10.1 billion.
Top 5 Commodity Exports
- Refined petroleum – $943 million
- Crude petroleum – $127 million
- Coal tar oil – $86.2 million
- Petroleum gas – $37.7 million
- Petroleum coke – $19 million
Other Notable Exports
- Integrated Circuits – $651 million
- Packaged medicaments – $463 million
- Models and Stuffed Animals – $195 million
- Low-voltage protection equipment – $157 million
- Fish Fillets – $133 million
Malta's annual exports of $4.74 billion make it the world's 114th largest exporter in the world. This represents a decline of -$2.55 billion in the five-year period from 2013 to 2018 when exports dropped from $7.29 billion to $4.74 billion.
The bulk of Malta's exports go to Germany (10.8%), France (8.83%), Italy (7.62%), Singapore (5.94%), and Libya (5.31%).
GDP of Malta
Malta's GDP is $14.6B, which represents 62.1% growth between 2008-2018. The GDP per capita is $30,098 – up by 37.3% since 2008.
The country is ranked number 125 out of 196 countries in terms of total GDP, but 67th in terms of GDP growth. For GDP per capita, it ranks 36th.
Top 5 Commodity Imports
- Refined petroleum – $5.87 billion
- Coal tar oil – $374 million
- Petroleum gas – $198 million
- Crude Petroleum – $179 million
- Cheese – $43.3 million
Other Notable Imports
- Passenger and cargo ships – $953 million
- Recreational Boats – $673 million
- Planes, helicopters, and/or spacecraft – $476 million
- Integrated circuits – $349 million
- Packaged medicaments – $313 million
Malta is the world's 85th largest trade destination with annual imports of $14.8 billion. This represents an increase of $3.13 between 2013 and 2018.
At 28%, almost a third of all Malta imports originate from Russia. This includes 62.4% of the $5.87 billion worth of imported refined petroleum.
Other major import partners are Italy, South Korea, the United Kingdom, and Germany.
Details on Malta Imports/Exports
Models and Stuffed Animals
Annual exports of $195 million make Malta the world's 23rd biggest exporter of models and stuffed animals.
The United States and Bosnia and Herzegovina are emerging as two of the fastest-growing export markets for models and stuffed animals from Malta.
Integrated circuits is Malta's 2nd most imported product. Total annual exports of $651 million also make the country the 25th largest exporter of this product in the world.
Singapore ($169 million), Hong Kong ($148 million), and France ($139) are the biggest export markets, with Japan emerging as one of the fastest-growing markets. Malta also imports $349 million worth of integrated circuits, mostly from Italy and France.
Passenger and Cargo Ships
Malta imports $953 million worth of passenger and cargo ships, of which 85.7% ($817 million) originate from South Korea, annually.
Poland ($16.4 million) is emerging as a fast-growing market. Passenger and cargo ship exports of $56.6 million from Malta is a fraction of the imports.
Planes, Helicopters and/or Spacecraft
Annual imports worth $467 million of planes, helicopters, and/or spacecraft represent 3.21% of total Malta imports.
Exports of planes, helicopters, and/or spacecraft amounts to $3.95 million only.
Sources and Further Reading
- Read what Malta's national debt is in relation to its GDP.
- See our global economic indicator guide to more than 45 countries.
- All figures based on OEC 2018 calculations and projections unless otherwise stated.
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