Malta’s Economic Growth Ranks Second in the EU

This year the European Commission states that Malta's economy will increase with a 4.3% rate, which makes it the second highest from the EU member states. Ireland is the first in the top three, with 6%, but Malta rejoices from the best economic growth in the last ten years. At the end of 2015, the Maltese economy continued to register significant growth, thus it is expected to further increase throughout 2016 as well. Our company formation experts in Malta can offer you complete information about Malta's current economic situation.

During the first three quarters of 2015 strong increases were seen in sectors such as: 

 

 

The strongest growth was seen in the service sectors and therefore it managed to compensate for the rather slow growth of the manufacturing sector.

 

A considerable increase in investment (by 21.5%) underpinned the increase in real GDP. This outstanding growth in investment made the Government try to find ways to reform central sectors of the Maltese economy and to encourage a further development in the new growth sectors. Exports of services and goods is yet another sector that increased by 2.5% throughout 2015.

The benefits of Malta's economic growth are many and are not limited to exports and investment, where, indeed, the results are remarkable, but were passed on to employees and companies. Profits during the year of 2015 (especially during the first three quarters), increased by 11.5%. Salaries were also increased by 4.7 % in the form of compensation. 

 

The European Commission's analysis focuses on the increase in infrastructural projects that can have a positive effect from an economic point of view; what is more, the setting up of the development bank has the goal of facilitating loans given to medium and small-sized enterprises that wish to continue their investment. 

 

Analysing the country's economy, the Minister for Finance stated that the results show a future sustainability of Malta's economic growth and the updated GDP figures released by NSO are the ones that confirm the strong, broad-based rapid development and growth of the state.

 

You can contact our Maltese company registration agents who can provide you with further details and updated information about Malta's economic growth.