The latest report issued by Eurostat reveals Malta’s positive economic performance from several points of view, among which foreign trade. Malta ranks higher than other EU countries when it comes to the inflation indicator and is well within the target imposed by the European Central Bank. For information about Malta’s current economic status you can refer to our local specialists.
The last report issued by Eurostat analyzes Malta’s actual economic status and provides an overall image on how its economy will develop in the year to come. According to the report, Malta’s inflation figures are better than Cyprus, Spain and Greece’s due to the foreign trade balance and higher consumer prices. Malta’s economy had already indicated a slight growth throughout the summer months and the new figures come to show this growth is very likely to continue until the end of 2015 and beyond.
The labor market has also helped Malta’s economy and will continue to do so, as the Government committed to support the local workforce. This will most likely lead to increased purchase power and will further boost private consumption.
The foreign trade balance also provides for Malta’s economic increase, considering its exports rose by 8% during January and August. The main factor stimulating this increase is the fact that Maltese companies were helped to supply their products outside the EU market.
For updated information about Malta’s foreign trade balance you can contact our experts in company formation.
Eurostat is optimistic about Malta’s economic future and provides for a 2.9% growth by the end of 2016 which is in line with the Government’s predictions for the next year. The main indicators pointing to this growth are private investment in the construction and energy industries. Exports will also aid the economy, most of Eurostat’s predictions indicating that the services and the electronics sectors would be taking the lead next year when it comes to distribution outside the country. Malta’s financial services industry is also believed to aid the economy in 2016.
For details about the best industries to invest in at the moment you can ask our specialists in company registration in Malta.