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Malta economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Malta ranked 119/197 by economy size with a GDP of $25B and 28/197 by GDP per capita at $43,899. Malta has $11.5B in government debt, with a debt-to-GDP ratio of 46.2%.

In 2024, Malta made up 0.02% of the world's economy, compared to 0.008% in 1970.

Malta GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $24,971,574,502 6.8%
2023 $22,610,561,526 10.6%
2022 $18,928,276,162 2.48%
2021 $19,739,875,611 13.4%
2020 $16,404,663,226 -3.46%
2019 $16,337,793,531 4.09%
2018 $16,153,779,511 7.19%
2017 $14,161,366,724 13%
2016 $12,025,782,834 4.08%
2015 $11,340,795,042 9.62%
2014 $11,888,032,874 7.63%
2013 $10,796,782,636 6.29%
2012 $9,609,532,089 4.1%
2011 $9,789,361,703 0.99%
2010 $9,097,044,159 6.2%
2009 $8,734,745,698 -1.4%
2008 $9,135,419,465 4.41%
2007 $7,908,412,306 5.04%
2006 $6,749,838,806 2.34%
2005 $6,393,234,993 2.88%
2004 $6,104,141,520 0.41%
2003 $5,418,315,224 3.69%
2002 $4,455,127,414 2.74%
2001 $4,070,867,133 -0.76%
2000 $4,036,809,815 19.7%
1999 $4,111,857,809 4.72%
1998 $4,010,111,688 5.13%
1997 $3,787,023,707 5.26%
1996 $3,822,547,197 3.78%
1995 $3,709,396,045 6.34%
1994 $2,998,505,428 5.65%
1993 $2,709,193,538 4.48%
1992 $3,021,942,759 4.69%
1991 $2,750,216,747 6.26%
1990 $2,547,328,748 6.29%
1989 $2,118,655,677 8.18%
1988 $2,019,503,068 8.41%
1987 $1,751,293,461 4.11%
1986 $1,435,038,441 3.89%
1985 $1,117,797,439 2.59%
1984 $1,101,807,023 0.94%
1983 $1,165,729,707 -0.61%
1982 $1,234,474,404 2.28%
1981 $1,243,509,394 3.31%
1980 $1,250,198,601 7.05%
1979 $1,001,288,847 10.5%
1978 $793,673,402 11.2%
1977 $625,563,171 12.2%
1976 $527,936,989 17%
1975 $474,618,321 19.6%
1974 $376,081,124 10%
1973 $345,616,106 4.15%
1972 $295,106,628 5.84%
1971 $264,578,485 2.45%
1970 $250,728,796 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta | CC BY

Malta GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $43,899 $69,864
2023 $40,906 $67,057
2022 $35,639 $60,589
2021 $38,097 $56,852
2020 $31,823 $49,972
2019 $32,422 $51,393
2018 $33,382 $48,178
2017 $30,317 $45,764
2016 $26,459 $41,000
2015 $25,530 $38,369
2014 $27,425 $35,206
2013 $25,416 $33,138
2012 $22,878 $30,716
2011 $23,517 $29,426
2010 $21,947 $28,909
2009 $21,176 $26,782
2008 $22,315 $26,654
2007 $19,444 $25,012
2006 $16,654 $23,219
2005 $15,831 $22,227
2004 $15,212 $21,566
2003 $13,594 $20,813
2002 $11,251 $19,532
2001 $10,358 $18,435
2000 $10,348 $18,214
1999 $10,609 $16,898
1998 $10,408 $16,219
1997 $9,893 $15,465
1996 $10,062 $14,661
1995 $9,828 $13,950
1994 $8,000 $12,938
1993 $7,296 $12,103
1992 $8,220 $11,429
1991 $7,559 $10,784
1990 $7,192 $10,086
1989 $6,041 -
1988 $5,814 -
1987 $5,084 -
1986 $4,195 -
1985 $3,322 -
1984 $3,333 -
1983 $3,527 -
1982 $3,788 -
1981 $3,898 -
1980 $3,948 -
1979 $3,196 -
1978 $2,559 -
1977 $2,038 -
1976 $1,727 -
1975 $1,560 -
1974 $1,245 -
1973 $1,144 -
1972 $976 -
1971 $874 -
1970 $828 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta | CC BY

Malta has a GDP per capita of $43,899, ranking 28/197, a GDP per capita based on purchasing power parity (PPP) of $69,864, ranking 25/197, and a median annual after tax income of $23,692, ranking 37/197.

Malta GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 118 25 21
2023 116 28 22
2022 123 32 25
2021 115 29 23
2020 118 31 23
2019 123 32 24
2018 125 31 26
2017 125 32 28
2016 130 35 30
2015 138 35 32
2014 138 36 35
2013 141 37 36
2012 142 38 40
2011 141 41 40
2010 140 41 41
2009 138 38 46
2008 135 42 48
2007 134 40 49
2006 133 44 49
2005 129 42 46
2004 123 41 44
2003 122 41 44
2002 126 43 43
2001 125 44 44
2000 123 43 43
1999 123 42 43
1998 122 41 40
1997 125 42 40
1996 121 40 40
1995 121 40 39
1994 119 42 41
1993 123 41 42
1992 119 39 42
1991 126 40 44
1990 131 42 44
1989 118 39 -
1988 118 38 -
1987 118 40 -
1986 116 40 -
1985 115 47 -
1984 114 46 -
1983 112 43 -
1982 112 42 -
1981 111 42 -
1980 111 41 -
1979 110 41 -
1978 112 42 -
1977 115 44 -
1976 115 45 -
1975 116 45 -
1974 114 50 -
1973 112 46 -
1972 112 45 -
1971 111 46 -
1970 111 45 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta | CC BY

Compared with 2000, in 2024 Malta is ranked 118th out of 182 by GDP (up from 123rd), 25th by GDP per capita (up from 43rd), and 21st by GDP per capita PPP (up from 43rd).

Economic indicators

Malta Rank
Gross domestic product
$25B
2024
119/197
GDP growth
6.8%
2023-2024
14/194
GDP per capita
$43,899
2024
28/197
GDP per capita, PPP
$69,864
2024
25/197
Government debt
$11.5B
2024
121/185
Debt-to-GDP ratio
46.2%
2024
118/185
Government debt per person
$20,269
2024
31/185
Average annual personal income after taxes
$23,692
2026
37/197
Listed domestic companies
34
2024
81/103
Market capitalization of domestic companies
$4.29B
2024
79/100
Income share by richest 10%
27.7%
2022
85/169
Income share by poorest 10%
2.7%
2022
94/169
Government expenditure, % of GDP
37.3%
2024
62/195
Consumer prices inflation
1.65%
2023-2024
150/195
Unemployment rate
3.12%
2024
151/196
Population
581729
167/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 37.3% 46.2% -3.58%
2023 36.1% 46.8% -4.65%
2022 38.3% 50.1% -5.31%
2021 39.4% 49.6% -6.95%
2020 42.1% 48.6% -8.72%
2019 34.9% 39.2% 0.72%
2018 34.5% 41.4% 1.86%
2017 32.7% 45.6% 3.4%
2016 35.5% 53.1% 1.1%
2015 37.8% 55% -0.84%
2014 39.6% 60.7% -1.49%
2013 40.1% 64.9% -2.19%
2012 41.7% 65.6% -3.31%
2011 41.5% 68.9% -2.99%
2010 40.1% 65% -2.22%
2009 41.1% 66% -3.11%
2008 42.1% 61.5% -4.06%
2007 41.2% 62% -2.05%
2006 42.5% 64.5% -2.46%
2005 42.5% 70.2% -2.83%
2004 42% 70.4% -4.28%
2003 45.6% 68.6% -9.04%
2002 43.6% 65.1% -5.62%
2001 44.4% 70% -6.5%
2000 42.9% 64.4% -5.83%
1999 - 69.8% -
1998 - 66.4% -
1997 - 60.8% -
1996 - 51.5% -
1995 - 45.3% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/malta | CC BY

This chart shows Malta's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of them, with an average annual deficit equal to 3.24% of GDP. In 2024, government spending reached $9.32B (37.3% of GDP), with a deficit of 3.58%.

The national debt reached $11.5B, ranking 121st out of 185 countries by total size, with a debt-to-GDP ratio of 46.2%, ranking 118th.

Inflation rate by year

1x
Year Inflation
2024 1.65%
2023 5.09%
2022 6.15%
2021 1.5%
2020 0.64%
2019 1.64%
2018 1.16%
2017 1.36%
2016 0.64%
2015 1.1%
2014 0.31%
2013 1.18%
2012 2.38%
2011 2.96%
2010 1.52%
2009 2.08%
2008 4.26%
2007 1.25%
2006 2.77%
2005 3.01%
2004 2.79%
2003 1.3%
2002 2.19%
2001 2.93%
2000 2.37%
1999 2.13%
1998 2.39%
1997 3.11%
1996 2.05%
1995 4.43%
1994 4.13%
1993 4.14%
1992 1.63%
1991 2.54%
1990 2.98%
1989 0.85%
1988 0.94%
1987 0.43%
1986 2.03%
1985 -0.24%
1984 -0.44%
1983 -0.88%
1982 5.82%
1981 11.5%
1980 15.7%
1979 7.15%
1978 4.71%
1977 10%
1976 0.55%
1975 8.79%
1974 7.26%
1973 7.69%
1972 3.37%
1971 2.32%
1970 3.72%
1969 2.33%
1968 2.04%
1967 0.69%
1966 0.52%
1965 1.6%
1964 2.18%
1963 1.88%
1962 0.17%
1961 2.51%
1960 3.38%

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta | CC BY

Over the past 20 years, Malta has had an average annual inflation rate of 2.13%. In 2024, inflation was 1.65%. The bar chart above shows consumer price inflation by year.

Balance of trade

Malta Rank
Current account balance
$1.78B
2024
47/190
Current account balance, % of GDP
+7.12%
2024
20/190
Goods imports
$7.56B
2024
119/189
Goods exports
$4.58B
2024
123/189
Service imports
$17.4B
2024
54/189
Service exports
$25B
2024
45/189
Imports of goods and services, % of GDP
99.7%
2024
9/181
Exports of goods and services, % of GDP
118.5%
2024
6/193

Malta top 10 trading partners

Malta's biggest trading partner accounting for 15.8% of all exports and imports is Germany, with a trade balance between the two of +$2.92B: Malta exports $4.81B worth of goods and services to Germany and imports $1.89B.

Below is the list of the top 10 trade partners of Malta.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $6.71B 15.8% $4.81B $1.89B Transport & tourism services Business & finance services
2 United Kingdom $6.67B 15.7% $2.34B $4.33B Transport & tourism services Business & finance services
3 Italy $2.97B 6.99% $540M $2.43B Transport & tourism services Raw materials & minerals
4 Netherlands $2.89B 6.81% $1.79B $1.1B Transport & tourism services Business & finance services
5 France $2.7B 6.37% $884M $1.82B Transport & tourism services Machinery & equipment
6 Sweden $1.86B 4.37% $521M $1.34B Transport & tourism services Business & finance services
7 United States $1.79B 4.21% $949M $838M Transport & tourism services Business & finance services
8 Austria $1.31B 3.09% $819M $491M Transport & tourism services Business & finance services
9 Spain $1.17B 2.75% $257M $910M Transport & tourism services Raw materials & minerals
10 Ireland $1.14B 2.7% $517M $628M Transport & tourism services Business & finance services

Top 10 exports

Malta Rank
Transport & tourism services $16.3B 38/188
Business & finance services $7.88B 37/188
Machinery & equipment $1.63B 74/193
IT & IP services $1.21B 58/183
Chemicals & pharma $601M 86/193
Raw materials & minerals $467M 123/193
Wood & paper products $366M 67/192
Animal & marine products $199M 92/192
Textiles & consumer goods $180M 109/193
Processed food, beverages & tobacco $156M 125/192

Top 10 imports

Malta Rank
Business & finance services $12.6B 33/188
Transport & tourism services $4.13B 68/188
Machinery & equipment $3.88B 97/193
Raw materials & minerals $2.14B 115/193
IT & IP services $1.99B 46/182
Chemicals & pharma $1.08B 108/193
Processed food, beverages & tobacco $612M 127/193
Textiles & consumer goods $569M 116/193
Animal & marine products $329M 101/193
Metals $251M 141/193

Economic freedom indices

Malta Rank
Economic freedom 68.2 49/197
Property rights 85.5 30/182
Government integrity 54.3 54/182
Judicial effectiveness 80.2 31/182
Tax burden 68.5 151/182
Government spending 58.4 123/180
Fiscal health 63.2 112/181
Business freedom 83.2 20/182
Labor freedom 62.6 34/182
Monetary freedom 73.1 99/180
Trade freedom 79.4 48/181
Investment freedom 60 77/181
Financial freedom 50 91/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 68.2 80.2 68.5 58.4 63.2
2025 66.8 81.5 70 57.5 44.8
2024 64.5 89.9 69.6 45 14.5
2023 67.5 57.4 69.9 45.9 43.5
2022 71.5 89.9 69 54.6 86.2
2021 70.2 57.3 68.6 60.9 96.3
2020 69.5 49.6 64.8 60 95.9
2019 68.6 50.4 64.2 56.1 94.5
2018 68.5 62.8 64.7 51 90
2017 67.7 62.9 62.8 44.9 85.1
2016 66.7 - 63.9 46.5 -
2015 66.5 - 63.1 44.4 -
2014 66.4 - 63.7 47.2 -
2013 67.5 - 61.2 44.1 -
2012 67 - 67.8 43.8 -
2011 65.7 - 62.5 39.8 -
2010 67.2 - 62.5 45.6 -
2009 66.1 - 63.1 41.7 -
2008 66 - 61.3 29.1 -
2007 66.1 - 61.1 27.7 -
2006 67.3 - 62.2 35.4 -
2005 68.9 - 62.2 40.3 -
2004 63.3 - 63.1 11.5 -
2003 61.1 - 63.5 36.8 -
2002 62.2 - 64.6 30.9 -
2001 62.9 - 65.7 41.9 -
2000 58.3 - 64.1 36.5 -
1999 59.3 - 67.5 41.9 -
1998 61.2 - 66.6 49.6 -
1997 57.9 - 68.4 47.8 -
1996 55.8 - 67.7 50.8 -
1995 56.3 - 68.2 51.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/malta | CC BY

Malta is ranked 43/174 for economic freedom with a score of 68.2, compared to 36/162 and a score of 67.3 in 2006.

Other economic metrics

Malta Rank
Services, % of GDP
81.8%
2024
3/191
Industry, % of GDP
10.7%
2024
181/194
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
189/193
GNI, Atlas method
$20.9B
2024
119/194
GNI per capita, PPP
$61,340
2024
30/191
Total reserves including gold
$1.42B
2024
137/177
Net foreign direct investment
-$6.13B
2024
171/189
Net inflows of foreign direct investment
$42.6B
2024
13/193
Net outflows of foreign direct investment
$36.5B
2024
14/193
Poverty at national poverty lines
16.7%
2021
119/176
Gross capital formation, % of GDP
19%
2024
134/178

Compare Malta vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/malta | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.