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Economy of Malta vs Poland compared: GDP & Debt

Updated on by Georank team

Malta has a GDP of $25B compared to $918B for Poland, ranking 119/197 and 21/197 by economy size, respectively.

Malta has $11.5B in government debt (46.2% of GDP), compared to $507B (55.3% of GDP) in Poland.

Malta vs Poland GDP by year

Malta
Poland
1x
Year GDP, current $
Malta Poland
2024 $24,971,574,502 $917,767,106,147
2023 $22,610,561,526 $812,451,193,396
2022 $18,928,276,162 $695,607,470,875
2021 $19,739,875,611 $689,170,230,665
2020 $16,404,663,226 $605,914,237,904
2019 $16,337,793,531 $602,683,770,145
2018 $16,153,779,511 $594,616,687,350
2017 $14,161,366,724 $528,356,676,667
2016 $12,025,782,834 $473,259,583,970
2015 $11,340,795,042 $480,054,118,583
2014 $11,888,032,874 $542,134,167,179
2013 $10,796,782,636 $518,179,836,405
2012 $9,609,532,089 $498,148,649,703
2011 $9,789,361,703 $527,848,543,023
2010 $9,097,044,159 $478,111,630,684
2009 $8,734,745,698 $440,891,472,247
2008 $9,135,419,465 $535,612,030,672
2007 $7,908,412,306 $429,715,132,138
2006 $6,749,838,806 $345,897,630,736
2005 $6,393,234,993 $306,999,913,151
2004 $6,104,141,520 $256,268,656,145
2003 $5,418,315,224 $218,561,225,998
2002 $4,455,127,414 $199,694,463,256
2001 $4,070,867,133 $191,823,200,371
2000 $4,036,809,815 $172,953,527,033
1999 $4,111,857,809 $170,704,452,715
1998 $4,010,111,688 $175,282,269,667
1997 $3,787,023,707 $159,893,964,917
1996 $3,822,547,197 $160,813,026,223
1995 $3,709,396,045 $142,838,527,115
1994 $2,998,505,428 $110,803,635,288
1993 $2,709,193,538 $96,043,157,273
1992 $3,021,942,759 $94,337,050,693
1991 $2,750,216,747 $85,500,935,935
1990 $2,547,328,748 $65,977,748,211
1989 $2,118,655,677 -
1988 $2,019,503,068 -
1987 $1,751,293,461 -
1986 $1,435,038,441 -
1985 $1,117,797,439 -
1984 $1,101,807,023 -
1983 $1,165,729,707 -
1982 $1,234,474,404 -
1981 $1,243,509,394 -
1980 $1,250,198,601 -
1979 $1,001,288,847 -
1978 $793,673,402 -
1977 $625,563,171 -
1976 $527,936,989 -
1975 $474,618,321 -
1974 $376,081,124 -
1973 $345,616,106 -
1972 $295,106,628 -
1971 $264,578,485 -
1970 $250,728,796 -

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

GeoRank.org/economy/malta/poland | CC BY

GDP per capita in Malta vs Poland by year

Malta
GDP per capita

GDP per capita, PPP
Poland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Poland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $43,899 $69,864 $25,104 $51,263
2023 $40,906 $67,057 $22,145 $48,473
2022 $35,639 $60,589 $18,891 $46,778
2021 $38,097 $56,852 $18,636 $41,060
2020 $31,823 $49,972 $16,151 $37,089
2019 $32,422 $51,393 $15,875 $35,882
2018 $33,382 $48,178 $15,658 $32,345
2017 $30,317 $45,764 $13,913 $30,170
2016 $26,459 $41,000 $12,464 $28,360
2015 $25,530 $38,369 $12,638 $26,988
2014 $27,425 $35,206 $14,262 $25,460
2013 $25,416 $33,138 $13,622 $24,434
2012 $22,878 $30,716 $13,087 $23,728
2011 $23,517 $29,426 $13,868 $22,809
2010 $21,947 $28,909 $12,568 $20,991
2009 $21,176 $26,782 $11,556 $19,300
2008 $22,315 $26,654 $14,049 $18,372
2007 $19,444 $25,012 $11,273 $16,833
2006 $16,654 $23,219 $9,069 $15,205
2005 $15,831 $22,227 $8,044 $13,936
2004 $15,212 $21,566 $6,712 $13,413
2003 $13,594 $20,813 $5,721 $12,329
2002 $11,251 $19,532 $5,223 $11,841
2001 $10,358 $18,435 $5,015 $11,175
2000 $10,348 $18,214 $4,521 $10,721
1999 $10,609 $16,898 $4,416 $10,081
1998 $10,408 $16,219 $4,534 $9,521
1997 $9,893 $15,465 $4,137 $8,967
1996 $10,062 $14,661 $4,164 $8,310
1995 $9,828 $13,950 $3,701 $7,715
1994 $8,000 $12,938 $2,875 $7,040
1993 $7,296 $12,103 $2,497 $6,560
1992 $8,220 $11,429 $2,459 $6,193
1991 $7,559 $10,784 $2,236 $5,925
1990 $7,192 $10,086 $1,731 $6,185
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/poland | CC BY

Malta's GDP per capita is $43,899, ranking 28/197, compared to $25,104 in Poland, ranking 48/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Poland ranks 43rd at $51,263.

Economic indicators

Malta Poland
Gross domestic product
$25B
2024
$918B
2024
GDP rank
119/197
2024
21/197
2024
GDP growth
6.8%
2023-2024
3.03%
2023-2024
GDP per capita
$43,899
2024
$25,104
2024
GDP per capita rank
28/197
2024
48/197
2024
GDP per capita, PPP
$69,864
2024
$51,263
2024
GDP per capita PPP rank
25/197
2024
43/197
2024
Government debt
$11.5B
2024
$507B
2024
Debt-to-GDP ratio
46.2%
2024
55.3%
2024
Government debt per person
$20,269
2024
$13,874
2024
Government debt per person rank
31/185
2024
41/185
2024
Average annual personal income after taxes
$23,692
2026
$20,736
2026
Market capitalization of domestic companies
$4.29B
2024
$197B
2024
Number of billionaires n/a
10
2025
Income share by richest 10%
27.7%
2022
22.9%
2023
Income share by poorest 10%
2.7%
2022
3.3%
2023
Government expenditure, % of GDP
37.3%
2024
49.4%
2024
Consumer prices inflation
1.65%
2023-2024
3.78%
2023-2024
Central bank interest rate n/a
4%
2025
Unemployment rate
3.12%
2024
2.81%
2024
Population
581729
35806942

Spending and national debt comparison by year

Malta
Spending

Debt
Poland
Spending

Debt
1x
Year % of GDP
Malta Poland
Government spending Government debt Government spending Government debt
2024 37.3% 46.2% 49.4% 55.3%
2023 36.1% 46.8% 46.9% 49.5%
2022 38.3% 50.1% 43.2% 48.8%
2021 39.4% 49.6% 43.6% 53%
2020 42.1% 48.6% 47.7% 56.6%
2019 34.9% 39.2% 41.4% 45.2%
2018 34.5% 41.4% 41% 48.2%
2017 32.7% 45.6% 41.1% 50.4%
2016 35.5% 53.1% 41.1% 54.1%
2015 37.8% 55% 41.5% 51.1%
2014 39.6% 60.7% 42.7% 51.1%
2013 40.1% 64.9% 43.2% 56.9%
2012 41.7% 65.6% 43.2% 54.5%
2011 41.5% 68.9% 44.1% 54.8%
2010 40.1% 65% 46% 53.7%
2009 41.1% 66% 44.9% 49.7%
2008 42.1% 61.5% 44% 46.6%
2007 41.2% 62% 42.8% 44.4%
2006 42.5% 64.5% 44.3% 47.1%
2005 42.5% 70.2% 44.1% 46.5%
2004 42% 70.4% 43.3% 44.9%
2003 45.6% 68.6% 45.5% 46.4%
2002 43.6% 65.1% 45.1% 41.6%
2001 44.4% 70% 44.7% 37.2%
2000 42.9% 64.4% 43.1% 36.4%
1999 - 69.8% 42.5% 39.4%
1998 - 66.4% 44% 38.7%
1997 - 60.8% 46.1% 42.7%
1996 - 51.5% 50.7% 43.2%
1995 - 45.3% 47.5% 48.7%
1994 - - - 64.3%
1993 - - - 83.9%
1992 - - - 81.9%
1991 - - - 76.9%
1990 - - - 89.7%
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - - -
1980 - - - -
1979 - - 35.6% -
1978 - - 35.8% -
1977 - - 35.6% -
1976 - - 34.8% -
1975 - - 34.1% -
1974 - - 28.6% -
1973 - - 24.5% -
1972 - - 24.1% -
1971 - - 24.1% -
1970 - - 25.8% -
1969 - - 26.3% -
1968 - - 27.3% -
1967 - - 29.6% -
1966 - - 31.7% -
1965 - - 31.8% -
1964 - - 33.5% -
1963 - - 33.3% -
1962 - - 43% -
1961 - - 42.8% -
1960 - - 39.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20).

GeoRank.org/economy/malta/poland | CC BY

In 2024, Malta's government spending was $9.32B, accounting for 37.3% of its GDP, while Poland spent $453B, or 49.4% of GDP.

Debt-to-GDP ratio is 46.2% in Malta and 55.3% in Poland, ranking 118/185 and 95/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Poland
1x
Year Deficit/surplus, % of GDP
Malta Poland
2024 -3.58% -6.59%
2023 -4.65% -5.27%
2022 -5.31% -3.44%
2021 -6.95% -1.75%
2020 -8.72% -6.85%
2019 0.72% -0.73%
2018 1.86% -0.24%
2017 3.4% -1.49%
2016 1.1% -2.38%
2015 -0.84% -2.59%
2014 -1.49% -3.66%
2013 -2.19% -4.25%
2012 -3.31% -3.8%
2011 -2.99% -4.97%
2010 -2.22% -7.43%
2009 -3.11% -7.24%
2008 -4.06% -3.6%
2007 -2.05% -1.88%
2006 -2.46% -3.53%
2005 -2.83% -3.93%
2004 -4.28% -4.99%
2003 -9.04% -6.02%
2002 -5.62% -4.8%
2001 -6.5% -4.73%
2000 -5.83% -4%
1999 - -2.3%
1998 - -4.25%
1997 - -4.61%
1996 - -4.84%
1995 - -4.39%

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

GeoRank.org/economy/malta/poland | CC BY

In 2024, Malta's government deficit, the difference between spending and revenue, was $893M, equivalent to 3.58% of GDP. This compares to Poland's deficit of $60.4B, or 6.59% of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of those years, while Poland ran a deficit in 25 years. On average, Malta posted an annual deficit equal to 3.24% of GDP, compared to deficit of 4.01% of GDP for Poland.

Inflation comparison by year

Inflation
Malta

Poland
1x
Year Consumer prices inflation
Malta Poland
2024 1.65% 3.78%
2023 5.09% 11.5%
2022 6.15% 14.4%
2021 1.5% 5.06%
2020 0.64% 3.37%
2019 1.64% 2.23%
2018 1.16% 1.81%
2017 1.36% 2.08%
2016 0.64% -0.66%
2015 1.1% -0.87%
2014 0.31% 0.05%
2013 1.18% 0.99%
2012 2.38% 3.56%
2011 2.96% 4.24%
2010 1.52% 2.58%
2009 2.08% 3.8%
2008 4.26% 4.16%
2007 1.25% 2.46%
2006 2.77% 1.28%
2005 3.01% 2.18%
2004 2.79% 3.38%
2003 1.3% 0.68%
2002 2.19% 1.91%
2001 2.93% 5.41%
2000 2.37% 9.9%
1999 2.13% 7.15%
1998 2.39% 11.6%
1997 3.11% 14.9%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta/poland | CC BY

Over the past 28 years, Malta has recorded an average annual inflation rate of 2.21%, compared with 4.39% in Poland. In 2024, inflation was 1.65% in Malta and 3.78% in Poland.

Top exports between countries

Malta
Export category Export value
Transport & tourism services $68.6M
Business & finance services $40.3M
Chemicals & pharma $33M
IT & IP services $10.3M
Machinery & equipment $7.51M
Wood & paper products $6.29M
Textiles & consumer goods $5.34M
Manufacturing & construction services $2.01M
Raw materials & minerals $838K
Government & miscellaneous services $710K
Poland
Export category Export value
Machinery & equipment $75M
Textiles & consumer goods $15.7M
Raw materials & minerals $12.2M
Processed food, beverages & tobacco $10.7M
Chemicals & pharma $9.69M
Business & finance services $7.09M
Animal & marine products $6.51M
Transport & tourism services $5.61M
IT & IP services $3.7M
Manufacturing & construction services $3.62M

Balance of trade

Malta Poland
Current account balance
$1.78B
2024
$2.8B
2024
Current account balance ranking
47/190
2024
40/190
2024
Current account balance, % of GDP
+7.12%
2024
+0.3%
2024
Goods imports
$7.56B
2024
$367B
2024
Goods exports
$4.58B
2024
$361B
2024
Service imports
$17.4B
2024
$74.9B
2024
Service exports
$25B
2024
$118B
2024
Imports of goods and services, % of GDP
99.7%
2024
48.2%
2024
Exports of goods and services, % of GDP
118.5%
2024
52.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Malta Poland
Economic freedom 68.2 68.5
Economic freedom ranking 49/197 46/197
Property rights 85.5 71.8
Government integrity 54.3 60.7
Judicial effectiveness 80.2 62.5
Tax burden 68.5 72.7
Government spending 58.4 35.1
Fiscal health 63.2 74.8
Business freedom 83.2 77.5
Labor freedom 62.6 53.7
Monetary freedom 73.1 73.8
Trade freedom 79.4 79.4
Investment freedom 60 80
Financial freedom 50 80

Economic freedom comparison by year

Malta
Poland
1x
Year Economic freedom index
Malta Poland
2026 68.2 68.5
2025 66.8 67.1
2024 64.5 66
2023 67.5 67.7
2022 71.5 68.7
2021 70.2 69.7
2020 69.5 69.1
2019 68.6 67.8
2018 68.5 68.5
2017 67.7 68.3
2016 66.7 69.3
2015 66.5 68.6
2014 66.4 67
2013 67.5 66
2012 67 64.2
2011 65.7 64.1
2010 67.2 63.2
2009 66.1 60.3
2008 66 60.3
2007 66.1 58.1
2006 67.3 59.3
2005 68.9 59.6
2004 63.3 58.7
2003 61.1 61.8
2002 62.2 65
2001 62.9 61.8
2000 58.3 60
1999 59.3 59.6
1998 61.2 59.2
1997 57.9 56.8
1996 55.8 57.8
1995 56.3 50.7

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

GeoRank.org/economy/malta/poland | CC BY

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 68.5 for Poland, ranking 46/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta Poland
Services, % of GDP
81.8%
2024
59.1%
2024
Industry, % of GDP
10.7%
2024
27.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
2.54%
2024
GNI, Atlas method
$20.9B
2024
$789B
2024
GNI per capita, PPP
$61,340
2024
$49,540
2024
Total reserves including gold
$1.42B
2024
$223B
2024
Total reserves ranking
137/177
2024
17/177
2024
Net foreign direct investment
-$6.13B
2024
-$10.6B
2024
Net inflows of foreign direct investment
$42.6B
2024
$20.6B
2024
Net outflows of foreign direct investment
$36.5B
2024
$10B
2024
Poverty at national poverty lines
16.7%
2021
13.3%
2024
Gross capital formation, % of GDP
19%
2024
17.8%
2024

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/poland | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.