Malta Tops Europe's Economic Growth Forecast List

February 07, 2019 | 2 minute read

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Malta - Real GDP growth and contributions graph 2019
 
Malta’s economy maintained a strong growth trajectory in 2018, with a particularly brisk increase in the Q3.
 
Real GDP growth is estimated to have reached 6.2% in 2018, making Malta one of the most dynamic economies in the EU.
 
As per the National Statistics Office (NSO), the Maltese government recorded a surplus of €127.8 million, as total revenue increased to €1,234.5 million, while total expenditure increased to €1,106.7 million.
 
Private consumption has been buoyant, reflecting strong employment growth, increasing disposable income and a large accumulation of savings in recent years.
Starting from the Q2 of 2018, domestic demand replaced net exports as the main driver of growth.
 
In the first three-quarters of 2018, Investment remained slow, especially in non-residential construction and transport.
Export growth slowed down from the high rates registered in recent years due to a weaker external environment and a drop in goods exports, while imports have started to recover, supported by strong domestic demand.
Growth is expected to continue over the forecast horizon, although at a slower pace.
 
In 2019 and 2020, real GDP growth is set to ease to 5.2% and 4.6%, respectively. As global demand moderates, economic growth is expected to continue relying on domestic demand, underpinned by high private and public consumption.  
 
The European economy is expected to grow for the seventh year in a row in 2019, with expansion forecast in every Member State.
 
Growth Map (EU, Malta)
 
 

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