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Economy of Malta vs Russia compared: GDP & Debt

Updated on by Georank

Malta has a GDP of $27.8B compared to $2.56T for Russia, ranking 118/197 and 8/197 by economy size, respectively.

Malta has $13B in government debt (46.8% of GDP), compared to $440B (17.2% of GDP) in Russia.

Malta vs Russia GDP by year

Malta
Russia
1x
Year GDP, current $
Malta Russia
2025 $27,771,821,561 $2,561,310,169,359
2024 $25,042,712,191 $2,186,462,268,813
2023 $22,625,329,776 $2,046,284,838,151
2022 $18,938,869,147 $2,292,495,097,681
2021 $19,730,119,031 $1,829,186,719,575
2020 $16,404,655,808 $1,493,075,894,362
2019 $16,337,788,881 $1,693,115,002,708
2018 $16,153,785,817 $1,657,328,773,461
2017 $14,161,374,599 $1,574,199,360,089
2016 $12,025,777,078 $1,276,786,350,881
2015 $11,340,789,706 $1,363,482,182,198
2014 $11,888,029,752 $2,059,241,589,895
2013 $10,796,780,874 $2,292,470,078,346
2012 $9,609,530,619 $2,208,293,553,878
2011 $9,789,363,086 $2,045,922,753,398
2010 $9,097,044,301 $1,524,916,715,224
2009 $8,769,897,418 $1,222,645,900,056
2008 $9,172,399,573 $1,660,848,058,303
2007 $7,908,412,374 $1,299,703,478,482
2006 $6,749,838,862 $989,932,071,353
2005 $6,393,234,965 $764,015,973,481
2004 $6,104,141,501 $591,016,690,732
2003 $5,418,315,225 $430,347,420,185
2002 $4,455,127,398 $345,470,494,418
2001 $4,070,867,153 $306,602,070,621
2000 $4,036,809,767 $259,710,142,197
1999 $4,111,857,836 $195,907,128,351
1998 $4,010,111,652 $270,955,486,862
1997 $3,787,023,655 $404,928,954,192
1996 $3,822,547,151 $391,724,890,744
1995 $3,709,396,089 $395,537,185,735
1994 $2,998,505,428 $395,077,301,248
1993 $2,709,193,538 $435,083,713,851
1992 $3,021,942,759 $460,290,556,901
1991 $2,750,216,747 $517,962,962,963
1990 $2,547,328,748 $517,014,446,228
1989 $2,118,655,677 $506,631,299,735
1988 $2,019,503,068 $554,828,660,436
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 (1970–2025, retrieved 2026-07-08).

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

GDP per capita in Malta vs Russia by year

Malta
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $47,907 - $17,847 -
2024 $44,024 $69,864 $15,219 $47,362
2023 $40,933 $67,057 $14,227 $44,269
2022 $35,659 $60,589 $15,894 $40,939
2021 $38,078 $56,852 $12,637 $38,638
2020 $31,823 $49,972 $10,280 $31,491
2019 $32,422 $51,393 $11,640 $30,964
2018 $33,382 $48,178 $11,399 $28,629
2017 $30,317 $45,764 $10,835 $25,778
2016 $26,459 $41,000 $8,804 $24,012
2015 $25,530 $38,369 $9,427 $23,994
2014 $27,425 $35,206 $14,277 $25,688
2013 $25,416 $33,138 $15,941 $26,020
2012 $22,878 $30,716 $15,402 $24,274
2011 $23,517 $29,426 $14,305 $22,790
2010 $21,947 $28,909 $10,675 $20,490
2009 $21,262 $26,782 $8,563 $19,390
2008 $22,406 $26,654 $11,635 $20,164
2007 $19,444 $25,012 $9,101 $16,648
2006 $16,654 $23,219 $6,920 $14,912
2005 $15,831 $22,227 $5,323 $11,822
2004 $15,212 $21,566 $4,102 $10,227
2003 $13,594 $20,813 $2,975 $9,255
2002 $11,251 $19,532 $2,378 $8,037
2001 $10,358 $18,435 $2,100 $7,361
2000 $10,348 $18,214 $1,772 $6,825
1999 $10,609 $16,898 $1,331 $5,914
1998 $10,408 $16,219 $1,835 $5,465
1997 $9,893 $15,465 $2,738 $5,700
1996 $10,062 $14,661 $2,644 $5,518
1995 $9,828 $13,950 $2,666 $5,613
1994 $8,000 $12,938 $2,662 $5,734
1993 $7,296 $12,103 $2,931 $6,420
1992 $8,220 $11,429 $3,099 $6,862
1991 $7,559 $10,784 $3,490 $7,858
1990 $7,192 $10,086 $3,494 $8,028
1989 $6,041 - $3,430 -
1988 $5,814 - $3,778 -
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 (1970–2025, retrieved 2026-07-08).

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

Malta's GDP per capita is $47,907, ranking 28/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Russia ranks 50th at $47,362.

Economic indicators

Malta Russia
Gross domestic product
$27.8B
2025
$2.56T
2025
GDP rank
118/197
2025
8/197
2025
GDP growth
3.96%
2024-2025
1%
2024-2025
GDP per capita
$47,907
2025
$17,847
2025
GDP per capita rank
28/197
2025
68/197
2025
GDP per capita, PPP
$69,864
2024
$47,362
2024
GDP per capita PPP rank
25/197
2024
50/197
2024
Government debt
$13B
2025
$440B
2025
Debt-to-GDP ratio
46.8%
2025
17.2%
2025
Government debt per person
$22,407
2025
$3,068
2025
Government debt per person rank
30/185
2025
105/185
2025
Average annual personal income after taxes
$22,914
2026
$11,183
2026
Market capitalization of domestic companies
$5.35B
2025
$650B
2023
Number of millionaires n/a
447,000
2026
Number of billionaires n/a
147
2026
Income share by richest 10%
24.7%
2023
25.1%
2023
Income share by poorest 10%
2.8%
2023
3.1%
2023
Government expenditure, % of GDP
37%
2025
39.1%
2025
Consumer prices inflation
2.36%
2024-2025
8.7%
2024-2025
Central bank interest rate n/a
14.5%
2026
Unemployment rate
3.1%
2025
2.13%
2025
Population
586345
142643173

Spending and national debt comparison by year

Malta
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Malta Russia
Government spending Government debt Government spending Government debt
2025 37% 46.8% 39.1% 17.2%
2024 37.4% 46% 36.7% 14.8%
2023 35.8% 46.8% 36.1% 15.2%
2022 38.4% 50.1% 35.1% 15.1%
2021 39.5% 49.6% 34.9% 16.5%
2020 42.1% 48.6% 39.2% 19.2%
2019 34.9% 39.2% 33.8% 13.7%
2018 34.5% 41.4% 32.6% 13.6%
2017 32.7% 45.6% 34.8% 14.3%
2016 35.5% 53.1% 36.6% 14.8%
2015 37.8% 55% 35.3% 15.3%
2014 39.6% 60.7% 34.9% 15.1%
2013 40.1% 64.9% 34.7% 12.3%
2012 41.7% 65.6% 34% 11.2%
2011 41.5% 68.9% 33.3% 10.3%
2010 40.1% 65% 35.5% 10.1%
2009 41.1% 66% 38.6% 9.92%
2008 42.1% 61.5% 32% 7.45%
2007 41.2% 62% 31.9% 8.03%
2006 42.5% 64.5% 29% 9.8%
2005 42.5% 70.2% 29.5% 14.9%
2004 42% 70.4% 29.6% 20.8%
2003 45.6% 68.6% 32.6% 28.3%
2002 43.6% 65.1% 33.8% 37.6%
2001 44.4% 70% 31.5% 44.4%
2000 42.9% 64.4% 30.7% 55.9%
1999 - 69.8% 34.3% 92.4%
1998 - 66.4% 39.7% 135.2%
1997 - 60.8% - 51.5%
1996 - 51.5% - 51.9%
1995 - 45.3% - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-07-08).

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

In 2025, Malta's government spending was $10.3B, accounting for 37% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 46.8% in Malta and 17.2% in Russia, ranking 113/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Russia
1x
Year Deficit/surplus, % of GDP
Malta Russia
2025 -3.1% -3.9%
2024 -3.51% -1.59%
2023 -4.43% -2.24%
2022 -5.33% -1.34%
2021 -6.96% 0.78%
2020 -8.71% -3.99%
2019 0.72% 1.93%
2018 1.86% 2.92%
2017 3.4% -1.47%
2016 1.1% -3.67%
2015 -0.84% -3.39%
2014 -1.49% -1.07%
2013 -2.19% -1.16%
2012 -3.31% 0.38%
2011 -2.99% 1.43%
2010 -2.22% -3.19%
2009 -3.11% -5.89%
2008 -4.06% 4.55%
2007 -2.05% 5.59%
2006 -2.46% 7.8%
2005 -2.83% 7.6%
2004 -4.28% 4.57%
2003 -9.04% 1.35%
2002 -5.62% 0.67%
2001 -6.5% 2.99%
2000 -5.83% 3.11%
1999 - -3.59%
1998 - -7.42%
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-07-08).

GeoRank.org/economy/malta/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 26 years, Malta recorded a fiscal deficit in 22 of those years, while Russia ran a deficit in 12 years. On average, Malta posted an annual deficit equal to 3.22% of GDP, compared to surplus of 0.49% of GDP for Russia.

Inflation comparison by year

Inflation
Malta

Russia
1x
Year Consumer prices inflation
Malta Russia
2025 2.36% 8.7%
2024 1.65% 8.4%
2023 5.09% 5.9%
2022 6.15% 13.7%
2021 1.5% 6.7%
2020 0.64% 3.4%
2019 1.64% 4.5%
2018 1.16% 2.9%
2017 1.36% 3.7%
2016 0.64% 7%
2015 1.1% 15.5%
2014 0.31% 7.8%
2013 1.18% 6.8%
2012 2.38% 5.1%
2011 2.96% 8.4%
2010 1.52% 6.8%
2009 2.08% 11.6%
2008 4.26% 14.1%
2007 1.25% 9%
2006 2.77% 9.7%
2005 3.01% 12.7%
2004 2.79% 10.9%
2003 1.3% 13.7%
2002 2.19% 15.8%
2001 2.93% 21.5%
2000 2.37% 20.8%
1999 2.13% 85.7%
1998 2.39% 27.7%
1997 3.11% 14.8%

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/russia | CC BY

Over the past 29 years, Malta has recorded an average annual inflation rate of 2.22%, compared with 13.2% in Russia. In 2025, inflation was 2.36% in Malta and 8.7% in Russia.

Top exports between countries

Malta
Export category Export value
Business & finance services $55.3M
Transport & tourism services $20.7M
Chemicals & pharma $8.65M
Government & miscellaneous services $2.32M
IT & IP services $948K
Machinery & equipment $448K
Textiles & consumer goods $131K
Metals $39K
Wood & paper products $23K
Raw materials & minerals $9K
Russia
Export category Export value
Raw materials & minerals $2.31B
Transport & tourism services $59M
Machinery & equipment $45.5M
IT & IP services $37.3M
Business & finance services $34.3M
Raw agricultural goods $3.86M
Manufacturing & construction services $3.32M
Wood & paper products $1.94M
Metals $1.32M
Chemicals & pharma $394K

Balance of trade

Malta Russia
Current account balance
$1.78B
2024
$43.1B
2025
Current account balance ranking
45/190
2024
14/190
2025
Current account balance, % of GDP
+7.1%
2024
+1.68%
2025
Goods imports
$7.56B
2024
$305B
2025
Goods exports
$4.58B
2024
$422B
2025
Service imports
$17.4B
2024
$94.8B
2025
Service exports
$25B
2024
$46.3B
2025
Imports of goods and services, % of GDP
99.9%
2025
15.5%
2025
Exports of goods and services, % of GDP
119.1%
2025
18.2%
2025

Economic freedom indices

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

Malta Russia
Economic freedom 68.2 50.3
Economic freedom ranking 49/197 161/197
Property rights 85.5 18.6
Government integrity 54.3 22.8
Judicial effectiveness 80.2 22.8
Tax burden 68.5 81.9
Government spending 58.4 61.3
Fiscal health 63.2 94.4
Business freedom 83.2 51.4
Labor freedom 62.6 59.1
Monetary freedom 73.1 61.8
Trade freedom 79.4 69.4
Investment freedom 60 30
Financial freedom 50 30

Economic freedom comparison by year

Malta
Russia
1x
Year Economic freedom index
Malta Russia
2026 68.2 50.3
2025 66.8 51.6
2024 64.5 52
2023 67.5 53.8
2022 71.5 56.1
2021 70.2 61.5
2020 69.5 61
2019 68.6 58.9
2018 68.5 58.2
2017 67.7 57.1
2016 66.7 50.6
2015 66.5 52.1
2014 66.4 51.9
2013 67.5 51.1
2012 67 50.5
2011 65.7 50.5
2010 67.2 50.3
2009 66.1 50.8
2008 66 49.8
2007 66.1 52.2
2006 67.3 52.4
2005 68.9 51.3
2004 63.3 52.8
2003 61.1 50.8
2002 62.2 48.7
2001 62.9 49.8
2000 58.3 51.8
1999 59.3 54.5
1998 61.2 52.8
1997 57.9 48.6
1996 55.8 51.6
1995 56.3 51.1

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

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

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta Russia
Services, % of GDP
81.3%
2025
58.9%
2025
Industry, % of GDP
10.1%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.47%
2025
3.06%
2025
GNI, Atlas method
$24B
2025
$2.33T
2025
GNI per capita, PPP
$64,900
2025
$49,220
2025
Total reserves including gold
$1.54B
2025
$608B
2024
Total reserves ranking
134/177
2025
6/177
2024
Net foreign direct investment
-$6.13B
2024
-$12.4B
2025
Net inflows of foreign direct investment
$42.6B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$36.5B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI n/a
2.63%
2024
Poverty at national poverty lines
16.7%
2021
7.2%
2024
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/russia | 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 (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, 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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.