Malta ranked 120/197 by economy size with a GDP of $24.3B and 28/197 by GDP per capita at $42,347. Malta has $11.8B in government debt, with a debt-to-GDP ratio of 49.3%.
In 2025, Malta made up 0.02% of the world's economy, compared to 0.008% in 1970.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1970 | $250,728,796 | $948,271,467 | - |
| 1971 | $264,578,485 | $971,541,988 | 5.52% |
| 1972 | $295,106,628 | $1,028,263,786 | 11.5% |
| 1973 | $345,616,106 | $1,070,897,026 | 17.1% |
| 1974 | $376,081,124 | $1,178,376,577 | 8.81% |
| 1975 | $474,618,321 | $1,408,867,989 | 26.2% |
| 1976 | $527,936,989 | $1,648,616,316 | 11.2% |
| 1977 | $625,563,171 | $1,849,486,528 | 18.5% |
| 1978 | $793,673,402 | $2,055,910,645 | 26.9% |
| 1979 | $1,001,288,847 | $2,271,591,567 | 26.2% |
| 1980 | $1,250,198,601 | $2,431,732,213 | 24.9% |
| 1981 | $1,243,509,394 | $2,512,265,398 | -0.54% |
| 1982 | $1,234,474,404 | $2,569,656,902 | -0.73% |
| 1983 | $1,165,729,707 | $2,553,920,578 | -5.57% |
| 1984 | $1,101,807,023 | $2,577,987,983 | -5.48% |
| 1985 | $1,117,797,439 | $2,644,636,182 | 1.45% |
| 1986 | $1,435,038,441 | $2,747,385,323 | 28.4% |
| 1987 | $1,751,293,461 | $2,860,316,993 | 22% |
| 1988 | $2,019,503,068 | $3,100,990,824 | 15.3% |
| 1989 | $2,118,655,677 | $3,354,624,138 | 4.91% |
| 1990 | $2,547,328,748 | $3,565,676,657 | 20.2% |
| 1991 | $2,750,216,747 | $3,788,762,970 | 7.96% |
| 1992 | $3,021,942,759 | $3,966,491,271 | 9.88% |
| 1993 | $2,709,193,538 | $4,144,219,794 | -10.3% |
| 1994 | $2,998,505,428 | $4,378,413,969 | 10.7% |
| 1995 | $3,709,360,097 | $4,656,114,550 | 23.7% |
| 1996 | $3,822,489,746 | $4,831,991,626 | 3.05% |
| 1997 | $3,787,070,704 | $5,086,008,503 | -0.93% |
| 1998 | $4,010,092,091 | $5,346,697,004 | 5.89% |
| 1999 | $4,111,891,845 | $5,599,059,817 | 2.54% |
| 2000 | $4,036,809,865 | $6,701,025,856 | -1.83% |
| 2001 | $4,070,867,153 | $6,650,321,027 | 0.84% |
| 2002 | $4,455,127,398 | $6,832,614,316 | 9.44% |
| 2003 | $5,418,315,225 | $7,085,028,943 | 21.6% |
| 2004 | $6,104,141,501 | $7,113,876,329 | 12.7% |
| 2005 | $6,393,234,965 | $7,318,803,721 | 4.74% |
| 2006 | $6,749,838,862 | $7,489,779,959 | 5.58% |
| 2007 | $7,908,412,374 | $7,867,015,006 | 17.2% |
| 2008 | $9,135,419,490 | $8,213,960,298 | 15.5% |
| 2009 | $8,734,745,632 | $8,099,347,414 | -4.39% |
| 2010 | $9,097,044,182 | $8,601,291,930 | 4.15% |
| 2011 | $9,789,361,705 | $8,686,613,622 | 7.61% |
| 2012 | $9,609,532,106 | $9,042,989,790 | -1.84% |
| 2013 | $10,796,782,634 | $9,611,949,002 | 12.4% |
| 2014 | $11,888,032,862 | $10,345,449,266 | 10.1% |
| 2015 | $11,340,795,033 | $11,340,795,033 | -4.6% |
| 2016 | $12,025,782,885 | $11,803,240,820 | 6.04% |
| 2017 | $14,161,366,733 | $13,334,371,306 | 17.8% |
| 2018 | $16,153,779,511 | $14,292,992,132 | 14.1% |
| 2019 | $16,337,793,531 | $14,876,818,843 | 1.14% |
| 2020 | $16,409,900,599 | $14,377,204,308 | 0.44% |
| 2021 | $19,723,563,355 | $16,289,342,191 | 20.2% |
| 2022 | $19,239,187,084 | $16,984,786,096 | -2.46% |
| 2023 | $22,210,718,401 | $18,139,125,340 | 15.4% |
| 2024 | $24,322,006,608 | $19,221,900,877 | 9.51% |
Economic Statistics of Malta
Malta
|
Rank | |
|---|---|---|
| Gross domestic product |
$24.3B
2024 |
120/197 |
| GDP growth |
9.51%
2023-2024 |
46/196 |
| GDP per capita |
$42,347
2024 |
28/197 |
| GDP per capita, PPP |
$67,364
2024 |
25/197 |
| Government debt |
$11.8B
2024 |
122/185 |
| Debt-to-GDP ratio |
49.3%
2025 |
112/185 |
| Government debt per person |
$20,574
2024 |
30/185 |
| Average annual personal income after taxes |
$21,451
2025 |
39/197 |
| 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 |
36.3%
2025 |
66/195 |
| Consumer prices inflation |
1.65%
2023-2024 |
153/195 |
| Unemployment rate |
3.12%
2024 |
150/196 |
| Population |
583596
|
167/197 |
Malta's GDP per capita
Malta has a GDP per capita of $42,347, ranking 28/197, a GDP per capita based on purchasing power parity (PPP) of $67,364, ranking 25/197, and a median annual after tax income of $21,451, ranking 39/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1970 | $828 | - |
| 1971 | $874 | - |
| 1972 | $976 | - |
| 1973 | $1,144 | - |
| 1974 | $1,245 | - |
| 1975 | $1,560 | - |
| 1976 | $1,727 | - |
| 1977 | $2,038 | - |
| 1978 | $2,559 | - |
| 1979 | $3,196 | - |
| 1980 | $3,948 | - |
| 1981 | $3,898 | - |
| 1982 | $3,788 | - |
| 1983 | $3,527 | - |
| 1984 | $3,333 | - |
| 1985 | $3,322 | - |
| 1986 | $4,195 | - |
| 1987 | $5,084 | - |
| 1988 | $5,814 | - |
| 1989 | $6,041 | - |
| 1990 | $7,192 | $10,079 |
| 1991 | $7,559 | $10,777 |
| 1992 | $8,220 | $11,421 |
| 1993 | $7,296 | $12,095 |
| 1994 | $8,000 | $12,929 |
| 1995 | $9,828 | $13,940 |
| 1996 | $10,062 | $14,655 |
| 1997 | $9,893 | $15,462 |
| 1998 | $10,408 | $16,218 |
| 1999 | $10,609 | $16,899 |
| 2000 | $10,348 | $18,211 |
| 2001 | $10,358 | $18,437 |
| 2002 | $11,251 | $19,532 |
| 2003 | $13,594 | $20,815 |
| 2004 | $15,212 | $21,569 |
| 2005 | $15,831 | $22,227 |
| 2006 | $16,654 | $23,224 |
| 2007 | $19,444 | $25,013 |
| 2008 | $22,315 | $26,654 |
| 2009 | $21,176 | $26,768 |
| 2010 | $21,947 | $28,912 |
| 2011 | $23,517 | $29,426 |
| 2012 | $22,878 | $30,716 |
| 2013 | $25,416 | $33,138 |
| 2014 | $27,425 | $35,206 |
| 2015 | $25,530 | $38,379 |
| 2016 | $26,459 | $40,999 |
| 2017 | $30,317 | $45,763 |
| 2018 | $33,382 | $48,177 |
| 2019 | $32,422 | $51,392 |
| 2020 | $31,834 | $49,988 |
| 2021 | $38,065 | $56,805 |
| 2022 | $36,224 | $60,489 |
| 2023 | $40,182 | $63,085 |
| 2024 | $42,347 | $67,364 |
Malta's government spending, deficit, and chart
This chart shows Malta's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 26 years, Malta recorded a fiscal deficit in 22 years — average annual deficit equal to -3.24% of GDP. In 2024, government spending reached $9.04B (36.3% of GDP), with a deficit of -3.35%.
The national debt reached $11.8B, ranking 122nd out of 185 countries by total size, with a debt-to-GDP ratio of 49.3%, ranking 112th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1995 | - | 45.3% | - |
| 1996 | - | 51.5% | - |
| 1997 | - | 60.8% | - |
| 1998 | - | 66.4% | - |
| 1999 | - | 69.8% | - |
| 2000 | 42.9% | 64.4% | -5.83% |
| 2001 | 44.4% | 70% | -6.5% |
| 2002 | 43.6% | 65.1% | -5.62% |
| 2003 | 45.6% | 68.6% | -9.04% |
| 2004 | 42% | 70.4% | -4.28% |
| 2005 | 42.5% | 70.2% | -2.83% |
| 2006 | 42.5% | 64.5% | -2.46% |
| 2007 | 41.2% | 62% | -2.05% |
| 2008 | 42.1% | 61.5% | -4.06% |
| 2009 | 41.1% | 66% | -3.11% |
| 2010 | 40.1% | 65% | -2.22% |
| 2011 | 41.5% | 68.9% | -2.99% |
| 2012 | 41.7% | 65.6% | -3.31% |
| 2013 | 40.1% | 64.9% | -2.19% |
| 2014 | 39.6% | 60.7% | -1.49% |
| 2015 | 37.8% | 55% | -0.84% |
| 2016 | 35.5% | 53.1% | 1.1% |
| 2017 | 32.7% | 45.6% | 3.4% |
| 2018 | 34.5% | 41.4% | 1.86% |
| 2019 | 34.9% | 39.2% | 0.72% |
| 2020 | 42.1% | 48.6% | -8.72% |
| 2021 | 39.5% | 49.6% | -6.96% |
| 2022 | 37.7% | 49.3% | -5.22% |
| 2023 | 36.5% | 47.7% | -4.58% |
| 2024 | 37.2% | 48.6% | -3.79% |
| 2025 | 36.3% | 49.3% | -3.35% |
Inflation rate by year
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 below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1960 | 3.38% |
| 1961 | 2.51% |
| 1962 | 0.17% |
| 1963 | 1.88% |
| 1964 | 2.18% |
| 1965 | 1.6% |
| 1966 | 0.52% |
| 1967 | 0.69% |
| 1968 | 2.04% |
| 1969 | 2.33% |
| 1970 | 3.72% |
| 1971 | 2.32% |
| 1972 | 3.37% |
| 1973 | 7.69% |
| 1974 | 7.26% |
| 1975 | 8.79% |
| 1976 | 0.55% |
| 1977 | 10% |
| 1978 | 4.71% |
| 1979 | 7.15% |
| 1980 | 15.7% |
| 1981 | 11.5% |
| 1982 | 5.82% |
| 1983 | -0.88% |
| 1984 | -0.44% |
| 1985 | -0.24% |
| 1986 | 2.03% |
| 1987 | 0.43% |
| 1988 | 0.94% |
| 1989 | 0.85% |
| 1990 | 2.98% |
| 1991 | 2.54% |
| 1992 | 1.63% |
| 1993 | 4.14% |
| 1994 | 4.13% |
| 1995 | 4.43% |
| 1996 | 2.05% |
| 1997 | 3.11% |
| 1998 | 2.39% |
| 1999 | 2.13% |
| 2000 | 2.37% |
| 2001 | 2.93% |
| 2002 | 2.19% |
| 2003 | 1.3% |
| 2004 | 2.79% |
| 2005 | 3.01% |
| 2006 | 2.77% |
| 2007 | 1.25% |
| 2008 | 4.26% |
| 2009 | 2.08% |
| 2010 | 1.52% |
| 2011 | 2.96% |
| 2012 | 2.38% |
| 2013 | 1.18% |
| 2014 | 0.31% |
| 2015 | 1.1% |
| 2016 | 0.64% |
| 2017 | 1.36% |
| 2018 | 1.16% |
| 2019 | 1.64% |
| 2020 | 0.64% |
| 2021 | 1.5% |
| 2022 | 6.15% |
| 2023 | 5.09% |
| 2024 | 1.65% |
Balance of trade
|
Malta
|
Rank | |
|---|---|---|
Current account balance
|
$1.38B
2024 |
51/189 |
| Current account balance, % of GDP |
+5.69%
2024 |
28/189 |
| Goods imports |
$7.31B
2024 |
120/188 |
| Goods exports |
$4.58B
2024 |
121/188 |
| Service imports |
$17.2B
2024 |
53/188 |
| Service exports |
$24.7B
2024 |
45/188 |
| Imports of goods and services, % of GDP |
106.1%
2024 |
7/180 |
| Exports of goods and services, % of GDP |
123.5%
2024 |
6/193 |
Malta's 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 |
Malta's 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 |
Malta's 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 | 66.8 | 54/197 |
| Property rights | 86.2 | 31/182 |
| Government integrity | 55 | 31/182 |
| Judicial effectiveness | 81.5 | 31/182 |
| Tax burden | 70 | 149/181 |
| Government spending | 57.5 | 129/180 |
| Fiscal health | 44.8 | 133/181 |
| Business freedom | 80.7 | 30/182 |
| Labor freedom | 65.2 | 30/182 |
| Monetary freedom | 70.5 | 101/180 |
| Trade freedom | 79.6 | 47/181 |
| Investment freedom | 60 | 77/181 |
| Financial freedom | 50 | 90/181 |
Malta's economic freedom by year
Malta is ranked 48/180 for economic freedom with a score of 66.8, compared to 28/163 and a score of 68.9 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1995 | 56.3 | - | 68.2 | 51.8 | - |
| 1996 | 55.8 | - | 67.7 | 50.8 | - |
| 1997 | 57.9 | - | 68.4 | 47.8 | - |
| 1998 | 61.2 | - | 66.6 | 49.6 | - |
| 1999 | 59.3 | - | 67.5 | 41.9 | - |
| 2000 | 58.3 | - | 64.1 | 36.5 | - |
| 2001 | 62.9 | - | 65.7 | 41.9 | - |
| 2002 | 62.2 | - | 64.6 | 30.9 | - |
| 2003 | 61.1 | - | 63.5 | 36.8 | - |
| 2004 | 63.3 | - | 63.1 | 11.5 | - |
| 2005 | 68.9 | - | 62.2 | 40.3 | - |
| 2006 | 67.3 | - | 62.2 | 35.4 | - |
| 2007 | 66.1 | - | 61.1 | 27.7 | - |
| 2008 | 66 | - | 61.3 | 29.1 | - |
| 2009 | 66.1 | - | 63.1 | 41.7 | - |
| 2010 | 67.2 | - | 62.5 | 45.6 | - |
| 2011 | 65.7 | - | 62.5 | 39.8 | - |
| 2012 | 67 | - | 67.8 | 43.8 | - |
| 2013 | 67.5 | - | 61.2 | 44.1 | - |
| 2014 | 66.4 | - | 63.7 | 47.2 | - |
| 2015 | 66.5 | - | 63.1 | 44.4 | - |
| 2016 | 66.7 | - | 63.9 | 46.5 | - |
| 2017 | 67.7 | 62.9 | 62.8 | 44.9 | 85.1 |
| 2018 | 68.5 | 62.8 | 64.7 | 51 | 90 |
| 2019 | 68.6 | 50.4 | 64.2 | 56.1 | 94.5 |
| 2020 | 69.5 | 49.6 | 64.8 | 60 | 95.9 |
| 2021 | 70.2 | 57.3 | 68.6 | 60.9 | 96.3 |
| 2022 | 71.5 | 89.9 | 69 | 54.6 | 86.2 |
| 2023 | 67.5 | 57.4 | 69.9 | 45.9 | 43.5 |
| 2024 | 64.5 | 89.9 | 69.6 | 45 | 14.5 |
| 2025 | 66.8 | 81.5 | 70 | 57.5 | 44.8 |
More economic indicators
|
Malta
|
Rank | |
|---|---|---|
| Services, % of GDP |
80.8%
2024 |
4/191 |
| Industry, % of GDP |
11.4%
2024 |
175/194 |
| Agriculture, forestry, and fishing, % of GDP |
0.21%
2024 |
189/193 |
|
GNI, Atlas method
|
$19.9B
2024 |
122/194 |
| GNI per capita, PPP |
$57,860
2024 |
28/191 |
| Total reserves including gold |
$1.42B
2024 |
137/177 |
|
Net foreign direct investment
|
-$11.6B
2024 |
178/188 |
|
Net inflows of foreign direct investment
|
$42.5B
2024 |
12/193 |
|
Net outflows of foreign direct investment
|
$30.9B
2024 |
14/187 |
| Poverty at national poverty lines |
16.7%
2021 |
119/176 |
|
Gross capital formation, % of GDP
|
18.8%
2024 |
134/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Malta topic pages:
Economy comparisons
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.