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Economy of Malta vs Romania compared: GDP & Debt

Updated on by Georank

Malta has a GDP of $27.8B compared to $429B for Romania, ranking 118/197 and 39/197 by economy size, respectively.

Malta has $13B in government debt (46.8% of GDP), compared to $260B (60.6% of GDP) in Romania.

Malta vs Romania GDP by year

Malta
Romania
1x
Year GDP, current $
Malta Romania
2025 $27,771,821,561 $428,677,977,855
2024 $25,042,712,191 $382,564,217,989
2023 $22,625,329,776 $347,757,995,759
2022 $18,938,869,147 $295,317,862,856
2021 $19,730,119,031 $285,072,444,957
2020 $16,404,655,808 $250,624,575,872
2019 $16,337,788,881 $250,080,428,512
2018 $16,153,785,817 $241,791,427,224
2017 $14,161,374,599 $210,147,385,855
2016 $12,025,777,078 $185,290,759,249
2015 $11,340,789,706 $177,885,131,240
2014 $11,888,029,752 $199,722,319,676
2013 $10,796,780,874 $189,798,603,751
2012 $9,609,530,619 $179,117,323,107
2011 $9,789,363,086 $192,623,977,894
2010 $9,097,044,301 $170,064,350,672
2009 $8,769,897,418 $174,110,532,659
2008 $9,172,399,573 $214,315,932,061
2007 $7,908,412,374 $174,588,782,939
2006 $6,749,838,862 $122,023,735,993
2005 $6,393,234,965 $98,454,380,120
2004 $6,104,141,501 $74,973,656,852
2003 $5,418,315,225 $57,806,384,143
2002 $4,455,127,398 $46,065,502,703
2001 $4,070,867,153 $40,395,116,581
2000 $4,036,809,767 $37,253,739,511
1999 $4,111,857,836 $35,953,156,754
1998 $4,010,111,652 $41,696,091,974
1997 $3,787,023,655 $35,575,214,078
1996 $3,822,547,151 $36,937,074,278
1995 $3,709,396,089 $37,430,162,103
1994 $2,998,505,428 $30,072,805,104
1993 $2,709,193,538 $26,361,160,450
1992 $3,021,942,759 $25,121,666,667
1991 $2,750,216,747 $28,850,634,900
1990 $2,547,328,748 $38,247,882,300
1989 $2,118,655,677 $41,450,777,202
1988 $2,019,503,068 $40,424,528,302
1987 $1,751,293,461 $38,067,567,568
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 (1970–2025, retrieved 2026-07-08).

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

GDP per capita in Malta vs Romania by year

Malta
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $47,907 - $22,538 -
2024 $44,024 $69,864 $20,080 $49,077
2023 $40,933 $67,057 $18,244 $45,982
2022 $35,659 $60,589 $15,503 $41,979
2021 $38,078 $56,852 $14,908 $37,534
2020 $31,823 $49,972 $13,009 $34,194
2019 $32,422 $51,393 $12,910 $33,425
2018 $33,382 $48,178 $12,416 $29,383
2017 $30,317 $45,764 $10,728 $26,943
2016 $26,459 $41,000 $9,405 $23,905
2015 $25,530 $38,369 $8,977 $21,625
2014 $27,425 $35,206 $10,032 $20,633
2013 $25,416 $33,138 $9,498 $19,678
2012 $22,878 $30,716 $8,930 $19,808
2011 $23,517 $29,426 $9,561 $18,804
2010 $21,947 $28,909 $8,400 $17,355
2009 $21,262 $26,782 $8,548 $16,641
2008 $22,406 $26,654 $10,435 $16,782
2007 $19,444 $25,012 $8,360 $13,703
2006 $16,654 $23,219 $5,758 $11,554
2005 $15,831 $22,227 $4,618 $9,602
2004 $15,212 $21,566 $3,495 $8,989
2003 $13,594 $20,813 $2,679 $7,559
2002 $11,251 $19,532 $2,120 $7,162
2001 $10,358 $18,435 $1,825 $6,520
2000 $10,348 $18,214 $1,660 $5,850
1999 $10,609 $16,898 $1,600 $5,596
1998 $10,408 $16,219 $1,853 $5,545
1997 $9,893 $15,465 $1,577 $5,564
1996 $10,062 $14,661 $1,633 $5,746
1995 $9,828 $13,950 $1,650 $5,429
1994 $8,000 $12,938 $1,323 $4,995
1993 $7,296 $12,103 $1,158 $4,699
1992 $8,220 $11,429 $1,102 $4,515
1991 $7,559 $10,784 $1,254 $4,795
1990 $7,192 $10,086 $1,648 $5,280
1989 $6,041 - $1,790 -
1988 $5,814 - $1,753 -
1987 $5,084 - $1,659 -
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 (1970–2025, retrieved 2026-07-08).

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

Malta's GDP per capita is $47,907, ranking 28/197, compared to $22,538 in Romania, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Romania ranks 47th at $49,077.

Economic indicators

Malta Romania
Gross domestic product
$27.8B
2025
$429B
2025
GDP rank
118/197
2025
39/197
2025
GDP growth
3.96%
2024-2025
0.68%
2024-2025
GDP per capita
$47,907
2025
$22,538
2025
GDP per capita rank
28/197
2025
57/197
2025
GDP per capita, PPP
$69,864
2024
$49,077
2024
GDP per capita PPP rank
25/197
2024
47/197
2024
Government debt
$13B
2025
$260B
2025
Debt-to-GDP ratio
46.8%
2025
60.6%
2025
Government debt per person
$22,407
2025
$13,650
2025
Government debt per person rank
30/185
2025
48/185
2025
Average annual personal income after taxes
$22,914
2026
$13,510
2026
Market capitalization of domestic companies
$5.35B
2025
$70.9B
2025
Number of billionaires n/a
6
2026
Income share by richest 10%
24.7%
2023
21.8%
2023
Income share by poorest 10%
2.8%
2023
2.4%
2023
Government expenditure, % of GDP
37%
2025
40.5%
2025
Consumer prices inflation
2.36%
2024-2025
7.3%
2024-2025
Central bank interest rate n/a
6.5%
2024
Unemployment rate
3.1%
2025
6.1%
2025
Population
586345
18912567

Spending and national debt comparison by year

Malta
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Malta Romania
Government spending Government debt Government spending Government debt
2025 37% 46.8% 40.5% 60.6%
2024 37.4% 46% 40% 57.5%
2023 35.8% 46.8% 37% 52.6%
2022 38.4% 50.1% 37.5% 51.9%
2021 39.5% 49.6% 37.2% 51.8%
2020 42.1% 48.6% 38.3% 49.5%
2019 34.9% 39.2% 33.4% 36.8%
2018 34.5% 41.4% 31.9% 36.4%
2017 32.7% 45.6% 31% 37.1%
2016 35.5% 53.1% 31.8% 39.5%
2015 37.8% 55% 34.2% 39.4%
2014 39.6% 60.7% 33.8% 40.5%
2013 40.1% 64.9% 34.2% 39.3%
2012 41.7% 65.6% 33.5% 36.2%
2011 41.5% 68.9% 35% 32.6%
2010 40.1% 65% 37.4% 30.2%
2009 41.1% 66% 36.3% 22.5%
2008 42.1% 61.5% 35.3% 13%
2007 41.2% 62% 34.6% 12.4%
2006 42.5% 64.5% 33.9% 12.7%
2005 42.5% 70.2% 32.3% 17.8%
2004 42% 70.4% 33.7% 21.3%
2003 45.6% 68.6% 31.8% 24.9%
2002 43.6% 65.1% 32.1% 27.4%
2001 44.4% 70% 33.2% 27.4%
2000 42.9% 64.4% 35% 29.6%
1999 - 69.8% 35.1% 21.7%
1998 - 66.4% 34.7% 16.5%
1997 - 60.8% 33.5% 15%
1996 - 51.5% 33.5% 11%
1995 - 45.3% 34.4% 6.91%
1994 - - 33.1% -
1993 - - 33.5% -
1992 - - 41.5% -
1991 - - 38.3% -
1990 - - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

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

In 2025, Malta's government spending was $10.3B, accounting for 37% of its GDP, while Romania spent $173B, or 40.5% of GDP.

Debt-to-GDP ratio is 46.8% in Malta and 60.6% in Romania, ranking 113/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Romania
1x
Year Deficit/surplus, % of GDP
Malta Romania
2025 -3.1% -7.64%
2024 -3.51% -8.68%
2023 -4.43% -5.66%
2022 -5.33% -5.85%
2021 -6.96% -6.74%
2020 -8.71% -9.6%
2019 0.72% -4.58%
2018 1.86% -2.76%
2017 3.4% -2.86%
2016 1.1% -2.5%
2015 -0.84% -1.35%
2014 -1.49% -1.76%
2013 -2.19% -2.44%
2012 -3.31% -2.39%
2011 -2.99% -4.14%
2010 -2.22% -6.22%
2009 -3.11% -6.86%
2008 -4.06% -4.6%
2007 -2.05% -3.05%
2006 -2.46% -1.36%
2005 -2.83% -0.69%
2004 -4.28% -3.39%
2003 -9.04% -2.29%
2002 -5.62% -2.59%
2001 -6.5% -3.2%
2000 -5.83% -3.99%
1999 - -3.58%
1998 - -5.33%
1997 - -5.19%
1996 - -4.74%
1995 - -3.32%
1994 - -2.2%
1993 - -0.35%
1992 - -4.55%
1991 - 3.23%
1990 - 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, Malta's government deficit, the difference between spending and revenue, was $861M, equivalent to 3.1% of GDP. This compares to Romania's deficit of $32.8B, or 7.64% of GDP.

Over the past 26 years, Malta recorded a fiscal deficit in 22 of those years, while Romania ran a deficit in 26 years. On average, Malta posted an annual deficit equal to 3.22% of GDP, compared to deficit of 4.12% of GDP for Romania.

Inflation comparison by year

Inflation
Malta

Romania
1x
Year Consumer prices inflation
Malta Romania
2025 2.36% 7.3%
2024 1.65% 5.6%
2023 5.09% 10.4%
2022 6.15% 13.8%
2021 1.5% 5%
2020 0.64% 2.6%
2019 1.64% 3.8%
2018 1.16% 4.6%
2017 1.36% 1.3%
2016 0.64% -1.6%
2015 1.1% -0.6%
2014 0.31% 1.1%
2013 1.18% 4%
2012 2.38% 3.3%
2011 2.96% 5.8%
2010 1.52% 6.1%
2009 2.08% 5.6%
2008 4.26% 7.8%
2007 1.25% 4.8%
2006 2.77% 6.6%
2005 3.01% 9%
2004 2.79% 11.9%
2003 1.3% 15.4%
2002 2.19% 22.5%
2001 2.93% 34.5%
2000 2.37% 45.7%
1999 2.13% 45.8%
1998 2.39% 59.1%
1997 3.11% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Malta has recorded an average annual inflation rate of 2.22%, compared with 17.1% in Romania. In 2025, inflation was 2.36% in Malta and 7.3% in Romania.

Top exports between countries

Malta
Export category Export value
Transport & tourism services $59.7M
Chemicals & pharma $13.6M
Business & finance services $11.6M
Machinery & equipment $6.47M
IT & IP services $2.56M
Processed food, beverages & tobacco $1.16M
Wood & paper products $1.15M
Manufacturing & construction services $866K
Raw materials & minerals $121K
Government & miscellaneous services $118K
Romania
Export category Export value
Business & finance services $173M
Transport & tourism services $148M
IT & IP services $85.7M
Machinery & equipment $13.6M
Raw materials & minerals $8.55M
Chemicals & pharma $7.27M
Raw agricultural goods $6.38M
Metals $5.04M
Manufacturing & construction services $2.58M
Textiles & consumer goods $1.87M

Balance of trade

Malta Romania
Current account balance
$1.78B
2024
-$33.9B
2025
Current account balance ranking
45/190
2024
186/190
2025
Current account balance, % of GDP
+7.1%
2024
-7.9%
2025
Goods imports
$7.56B
2024
$139B
2025
Goods exports
$4.58B
2024
$102B
2025
Service imports
$17.4B
2024
$35.9B
2025
Service exports
$25B
2024
$50.1B
2025
Imports of goods and services, % of GDP
99.9%
2025
40.7%
2025
Exports of goods and services, % of GDP
119.1%
2025
35.5%
2025

Economic freedom indices

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

Malta Romania
Economic freedom 68.2 65.4
Economic freedom ranking 49/197 64/197
Property rights 85.5 81
Government integrity 54.3 50
Judicial effectiveness 80.2 67
Tax burden 68.5 89.1
Government spending 58.4 56.7
Fiscal health 63.2 21.4
Business freedom 83.2 74.4
Labor freedom 62.6 63.6
Monetary freedom 73.1 72.7
Trade freedom 79.4 79.4
Investment freedom 60 70
Financial freedom 50 60

Economic freedom comparison by year

Malta
Romania
1x
Year Economic freedom index
Malta Romania
2026 68.2 65.4
2025 66.8 66.5
2024 64.5 64.4
2023 67.5 64.5
2022 71.5 67.1
2021 70.2 69.5
2020 69.5 69.7
2019 68.6 68.6
2018 68.5 69.4
2017 67.7 69.7
2016 66.7 65.6
2015 66.5 66.6
2014 66.4 65.5
2013 67.5 65.1
2012 67 64.4
2011 65.7 64.7
2010 67.2 64.2
2009 66.1 63.2
2008 66 61.7
2007 66.1 61.2
2006 67.3 58.2
2005 68.9 52.1
2004 63.3 50
2003 61.1 50.6
2002 62.2 48.7
2001 62.9 50
2000 58.3 52.1
1999 59.3 50.1
1998 61.2 54.4
1997 57.9 50.8
1996 55.8 46.2
1995 56.3 42.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta Romania
Services, % of GDP
81.3%
2025
61.7%
2025
Industry, % of GDP
10.1%
2025
25.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.47%
2025
3%
2025
GNI, Atlas method
$24B
2025
$384B
2025
GNI per capita, PPP
$64,900
2025
$49,550
2025
Total reserves including gold
$1.54B
2025
$90.6B
2025
Total reserves ranking
134/177
2025
31/177
2025
Net foreign direct investment
-$6.13B
2024
-$8.57B
2025
Net inflows of foreign direct investment
$42.6B
2024
$7.16B
2024
Net outflows of foreign direct investment
$36.5B
2024
$1.99B
2024
Poverty at national poverty lines
16.7%
2021
19%
2023
Gross capital formation, % of GDP
18.7%
2025
25.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.