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Economy of Malta vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Malta has a GDP of $25B compared to $1.24T for Saudi Arabia, ranking 119/197 and 18/197 by economy size, respectively.

Malta has $11.5B in government debt (46.2% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Malta vs Saudi Arabia GDP by year

Malta
Saudi Arabia
1x
Year GDP, current $
Malta Saudi Arabia
2024 $24,971,574,502 $1,239,804,533,333
2023 $22,610,561,526 $1,218,584,533,333
2022 $18,928,276,162 $1,239,075,200,000
2021 $19,739,875,611 $982,661,066,667
2020 $16,404,663,226 $767,951,200,000
2019 $16,337,793,531 $888,890,133,333
2018 $16,153,779,511 $886,564,800,000
2017 $14,161,366,724 $741,266,133,333
2016 $12,025,782,834 $689,279,466,667
2015 $11,340,795,042 $693,414,400,000
2014 $11,888,032,874 $787,153,066,667
2013 $10,796,782,636 $769,755,733,333
2012 $9,609,532,089 $751,921,333,333
2011 $9,789,361,703 $680,660,800,000
2010 $9,097,044,159 $528,207,466,667
2009 $8,734,745,698 $429,097,866,667
2008 $9,135,419,465 $519,796,800,000
2007 $7,908,412,306 $415,964,509,673
2006 $6,749,838,806 $376,900,133,511
2005 $6,393,234,993 $328,459,608,764
2004 $6,104,141,520 $258,742,133,333
2003 $5,418,315,224 $215,807,733,333
2002 $4,455,127,414 $189,605,866,667
2001 $4,070,867,133 $184,137,600,000
2000 $4,036,809,815 $189,514,933,333
1999 $4,111,857,809 $161,717,066,667
1998 $4,010,111,688 $146,775,466,667
1997 $3,787,023,707 $165,963,684,913
1996 $3,822,547,197 $158,662,483,311
1995 $3,709,396,045 $143,343,124,166
1994 $2,998,505,428 $135,174,899,866
1993 $2,709,193,538 $132,967,957,276
1992 $3,021,942,759 $137,087,850,467
1991 $2,750,216,747 $132,223,230,975
1990 $2,547,328,748 $117,630,173,565
1989 $2,118,655,677 $95,344,459,279
1988 $2,019,503,068 $88,256,074,766
1987 $1,751,293,461 $85,695,861,148
1986 $1,435,038,441 $86,961,922,765
1985 $1,117,797,439 $103,897,846,494
1984 $1,101,807,023 $119,624,858,116
1983 $1,165,729,707 $129,171,635,311
1982 $1,234,474,404 $153,240,313,858
1981 $1,243,509,394 $184,291,360,139
1980 $1,250,198,601 $164,539,660,725
1979 $1,001,288,847 $111,858,444,786
1978 $793,673,402 $80,266,516,687
1977 $625,563,171 $74,188,986,586
1976 $527,936,989 $64,005,665,722
1975 $474,618,321 $46,773,208,643
1974 $376,081,124 $45,412,957,746
1973 $345,616,106 $14,947,435,499
1972 $295,106,628 $9,664,267,087
1971 $264,578,485 $7,184,806,909
1970 $250,728,796 $5,377,333,333
1969 - $4,485,777,644
1968 - $4,187,777,711
1967 - $3,257,022,223
1966 - $2,920,555,557
1965 - $2,647,955,558
1964 - $2,371,808,713
1963 - $2,207,393,172
1962 - $2,130,606,532
1961 - $1,920,811,284
1960 - $1,748,124,064

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

GeoRank.org/economy/malta/saudi-arabia | CC BY

GDP per capita in Malta vs Saudi Arabia by year

Malta
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $43,899 $69,864 $35,122 $71,375
2023 $40,906 $67,057 $36,157 $71,565
2022 $35,639 $60,589 $38,510 $71,968
2021 $38,097 $56,852 $31,921 $62,690
2020 $31,823 $49,972 $24,339 $47,518
2019 $32,422 $51,393 $29,567 $59,560
2018 $33,382 $48,178 $29,360 $59,378
2017 $30,317 $45,764 $23,929 $53,120
2016 $26,459 $41,000 $22,268 $49,937
2015 $25,530 $38,369 $23,256 $53,931
2014 $27,425 $35,206 $27,805 $62,578
2013 $25,416 $33,138 $27,865 $62,203
2012 $22,878 $30,716 $28,733 $65,034
2011 $23,517 $29,426 $27,127 $64,125
2010 $21,947 $28,909 $22,028 $58,829
2009 $21,176 $26,782 $17,718 $54,787
2008 $22,315 $26,654 $22,320 $57,236
2007 $19,444 $25,012 $18,596 $55,030
2006 $16,654 $23,219 $17,564 $54,639
2005 $15,831 $22,227 $15,976 $53,548
2004 $15,212 $21,566 $13,154 $51,225
2003 $13,594 $20,813 $11,487 $48,078
2002 $11,251 $19,532 $10,586 $45,466
2001 $10,358 $18,435 $10,805 $47,381
2000 $10,348 $18,214 $11,715 $48,644
1999 $10,609 $16,898 $10,452 $47,495
1998 $10,408 $16,219 $9,836 $48,867
1997 $9,893 $15,465 $11,545 $48,796
1996 $10,062 $14,661 $11,472 $48,569
1995 $9,828 $13,950 $10,786 $48,052
1994 $8,000 $12,938 $10,602 $48,904
1993 $7,296 $12,103 $10,885 $49,503
1992 $8,220 $11,429 $11,730 $50,355
1991 $7,559 $10,784 $11,847 $49,295
1990 $7,192 $10,086 $11,055 $46,214
1989 $6,041 - $9,414 -
1988 $5,814 - $9,165 -
1987 $5,084 - $9,386 -
1986 $4,195 - $10,078 -
1985 $3,322 - $12,745 -
1984 $3,333 - $15,541 -
1983 $3,527 - $17,810 -
1982 $3,788 - $22,454 -
1981 $3,898 - $28,703 -
1980 $3,948 - $27,206 -
1979 $3,196 - $19,612 -
1978 $2,559 - $14,914 -
1977 $2,038 - $14,595 -
1976 $1,727 - $13,313 -
1975 $1,560 - $10,266 -
1974 $1,245 - $10,503 -
1973 $1,144 - $3,640 -
1972 $976 - $2,474 -
1971 $874 - $1,929 -
1970 $828 - $1,509 -
1969 - - $1,313 -
1968 - - $1,276 -
1967 - - $1,032 -
1966 - - $961 -
1965 - - $904 -
1964 - - $840 -
1963 - - $812 -
1962 - - $813 -
1961 - - $760 -
1960 - - $718 -

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

GeoRank.org/economy/malta/saudi-arabia | CC BY

Malta's GDP per capita is $43,899, ranking 28/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Malta Saudi Arabia
Gross domestic product
$25B
2024
$1.24T
2024
GDP rank
119/197
2024
18/197
2024
GDP growth
6.8%
2023-2024
2%
2023-2024
GDP per capita
$43,899
2024
$35,122
2024
GDP per capita rank
28/197
2024
33/197
2024
GDP per capita, PPP
$69,864
2024
$71,375
2024
GDP per capita PPP rank
25/197
2024
24/197
2024
Government debt
$11.5B
2024
$324B
2024
Debt-to-GDP ratio
46.2%
2024
26.2%
2024
Government debt per person
$20,269
2024
$9,185
2024
Government debt per person rank
31/185
2024
58/185
2024
Average annual personal income after taxes
$23,692
2026
$23,076
2026
Market capitalization of domestic companies
$4.29B
2024
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires n/a
15
2025
Income share by richest 10%
27.7%
2022
n/a
Income share by poorest 10%
2.7%
2022
n/a
Government expenditure, % of GDP
37.3%
2024
29.6%
2024
Consumer prices inflation
1.65%
2023-2024
1.69%
2023-2024
Central bank interest rate n/a
4.25%
2025
Unemployment rate
3.12%
2024
3.52%
2024
Population
581729
36734925

Spending and national debt comparison by year

Malta
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Malta Saudi Arabia
Government spending Government debt Government spending Government debt
2024 37.3% 46.2% 29.6% 26.2%
2023 36.1% 46.8% 28.3% 23%
2022 38.3% 50.1% 25.3% 21.3%
2021 39.4% 49.6% 28.2% 25.5%
2020 42.1% 48.6% 37.4% 29.7%
2019 34.9% 39.2% 31.8% 20.3%
2018 34.5% 41.4% 32.4% 16.8%
2017 32.7% 45.6% 30.9% 15.9%
2016 35.5% 53.1% 33.3% 12.2%
2015 37.8% 55% 38.5% 5.47%
2014 39.6% 60.7% 38.6% 1.5%
2013 40.1% 64.9% 34.5% 2.08%
2012 41.7% 65.6% 32.5% 2.97%
2011 41.5% 68.9% 32.4% 5.31%
2010 40.1% 65% 33% 8.43%
2009 41.1% 66% 37.1% 14%
2008 42.1% 61.5% 26.7% 12.1%
2007 41.2% 62% 29.5% 17.1%
2006 42.5% 64.5% 27.3% 25.8%
2005 42.5% 70.2% 28.2% 37.3%
2004 42% 70.4% 31.1% 62.9%
2003 45.6% 68.6% 33.1% 81.6%
2002 43.6% 65.1% 35.9% 96.4%
2001 44.4% 70% 36.9% 93.1%
2000 42.9% 64.4% 33.1% 86.7%
1999 - 69.8% 30.3% 103%
1998 - 66.4% 34.5% 101.5%
1997 - 60.8% 35.6% 76.7%
1996 - 51.5% 33.3% 75.2%
1995 - 45.3% 32.4% 74.2%
1994 - - 33.8% 67.9%
1993 - - 37.7% 58.6%
1992 - - 41.2% 47.8%
1991 - - 34.9% 39.4%
1990 - - 39.3% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malta/saudi-arabia | CC BY

In 2024, Malta's government spending was $9.32B, accounting for 37.3% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 46.2% in Malta and 26.2% in Saudi Arabia, ranking 118/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Malta

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Malta Saudi Arabia
2024 -3.58% -2.49%
2023 -4.65% -1.77%
2022 -5.31% 2.24%
2021 -6.95% -1.99%
2020 -8.72% -10.2%
2019 0.72% -3.96%
2018 1.86% -5.21%
2017 3.4% -8.57%
2016 1.1% -13.2%
2015 -0.84% -14.9%
2014 -1.49% -3.4%
2013 -2.19% 5.47%
2012 -3.31% 11.7%
2011 -2.99% 11.4%
2010 -2.22% 4.39%
2009 -3.11% -5.38%
2008 -4.06% 29.8%
2007 -2.05% 11.8%
2006 -2.46% 20.8%
2005 -2.83% 18%
2004 -4.28% 9.72%
2003 -9.04% 1.2%
2002 -5.62% -5.91%
2001 -6.5% -3.91%
2000 -5.83% 3.18%
1999 - -5.99%
1998 - -8.88%
1997 - -2.51%
1996 - -3.25%
1995 - -5.12%
1994 - -8.31%
1993 - -9.33%
1992 - -8.12%
1991 - -3.28%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/malta/saudi-arabia | 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 Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of those years, while Saudi Arabia ran a deficit in 13 years. On average, Malta posted an annual deficit equal to 3.24% of GDP, compared to surplus of 1.95% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Malta

Saudi Arabia
1x
Year Consumer prices inflation
Malta Saudi Arabia
2024 1.65% 1.69%
2023 5.09% 2.33%
2022 6.15% 2.47%
2021 1.5% 3.06%
2020 0.64% 3.37%
2019 1.64% -1.19%
2018 1.16% 2.47%
2017 1.36% -0.83%
2016 0.64% 2.05%
2015 1.1% 1.22%
2014 0.31% 2.24%
2013 1.18% 3.51%
2012 2.38% 2.87%
2011 2.96% 5.83%
2010 1.52% 5.34%
2009 2.08% 5.06%
2008 4.26% 9.87%
2007 1.25% 4.17%
2006 2.77% 2.21%
2005 3.01% 0.48%
2004 2.79% 0.52%
2003 1.3% 0.61%
2002 2.19% 0.25%
2001 2.93% -1.12%
2000 2.37% -1.12%
1999 2.13% -1.33%
1998 2.39% -0.37%
1997 3.11% 0.06%

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

GeoRank.org/economy/malta/saudi-arabia | CC BY

Over the past 28 years, Malta has recorded an average annual inflation rate of 2.21%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 1.65% in Malta and 1.69% in Saudi Arabia.

Top exports between countries

Malta
Export category Export value
Processed food, beverages & tobacco $27.2M
Business & finance services $25.4M
Transport & tourism services $17.6M
Machinery & equipment $4.46M
Wood & paper products $2.68M
Raw agricultural goods $2.63M
Chemicals & pharma $2.57M
IT & IP services $355K
Precious metals & jewellery $241K
Textiles & consumer goods $95K
Saudi Arabia
Export category Export value
Raw materials & minerals $5.05B
Machinery & equipment $50.9M
Chemicals & pharma $26.7M
Processed food, beverages & tobacco $1.4M
Metals $242K
Textiles & consumer goods $191K
Precious metals & jewellery $90K
Wood & paper products $90K
Raw agricultural goods $33K
Miscellaneous $8K

Balance of trade

Malta Saudi Arabia
Current account balance
$1.78B
2024
-$16.3B
2024
Current account balance ranking
47/190
2024
180/190
2024
Current account balance, % of GDP
+7.12%
2024
-1.31%
2024
Goods imports
$7.56B
2024
$214B
2024
Goods exports
$4.58B
2024
$306B
2024
Service imports
$17.4B
2024
$125B
2024
Service exports
$25B
2024
$62.8B
2024
Imports of goods and services, % of GDP
99.7%
2024
25.6%
2024
Exports of goods and services, % of GDP
118.5%
2024
29.1%
2024

Economic freedom indices

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

Malta Saudi Arabia
Economic freedom 68.2 65.4
Economic freedom ranking 49/197 65/197
Property rights 85.5 51.4
Government integrity 54.3 52.7
Judicial effectiveness 80.2 38.2
Tax burden 68.5 99.2
Government spending 58.4 77
Fiscal health 63.2 97.9
Business freedom 83.2 71.2
Labor freedom 62.6 41.8
Monetary freedom 73.1 81.2
Trade freedom 79.4 73.8
Investment freedom 60 50
Financial freedom 50 50

Economic freedom comparison by year

Malta
Saudi Arabia
1x
Year Economic freedom index
Malta Saudi Arabia
2026 68.2 65.4
2025 66.8 64.4
2024 64.5 61.9
2023 67.5 58.3
2022 71.5 55.5
2021 70.2 66
2020 69.5 62.4
2019 68.6 60.7
2018 68.5 59.6
2017 67.7 64.4
2016 66.7 62.1
2015 66.5 62.1
2014 66.4 62.2
2013 67.5 60.6
2012 67 62.5
2011 65.7 66.2
2010 67.2 64.1
2009 66.1 64.3
2008 66 62.5
2007 66.1 60.9
2006 67.3 63
2005 68.9 63
2004 63.3 60.4
2003 61.1 63.2
2002 62.2 65.3
2001 62.9 62.2
2000 58.3 66.5
1999 59.3 65.5
1998 61.2 69.3
1997 57.9 68.7
1996 55.8 68.3
1995 56.3 -

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

GeoRank.org/economy/malta/saudi-arabia | CC BY

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta Saudi Arabia
Services, % of GDP
81.8%
2024
47.1%
2024
Industry, % of GDP
10.7%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
2.54%
2024
GNI, Atlas method
$20.9B
2024
$1.26T
2024
GNI per capita, PPP
$61,340
2024
$71,730
2024
Total reserves including gold
$1.42B
2024
$464B
2024
Total reserves ranking
137/177
2024
7/177
2024
Net foreign direct investment
-$6.13B
2024
$6.27B
2024
Net inflows of foreign direct investment
$42.6B
2024
$21.3B
2024
Net outflows of foreign direct investment
$36.5B
2024
$27.6B
2024
Poverty at national poverty lines
16.7%
2021
n/a
Gross capital formation, % of GDP
19%
2024
30.2%
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/saudi-arabia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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. TradeMap (2020–2024, 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.