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Economy of Malta vs United Arab Emirates compared: GDP & Debt

Updated on by Georank team

Malta has a GDP of $25B compared to $552B for the United Arab Emirates, ranking 119/197 and 27/197 by economy size, respectively.

Malta has $11.5B in government debt (46.2% of GDP), compared to $193B (34.9% of GDP) in the United Arab Emirates.

Malta vs United Arab Emirates GDP by year

Malta
United Arab Emirates
1x
Year GDP, current $
Malta UAE
2024 $24,971,574,502 $552,324,846,835
2023 $22,610,561,526 $522,622,191,967
2022 $18,928,276,162 $511,403,403,676
2021 $19,739,875,611 $422,441,388,700
2020 $16,404,663,226 $357,161,878,829
2019 $16,337,793,531 $433,926,208,305
2018 $16,153,779,511 $440,560,108,918
2017 $14,161,366,724 $403,365,010,211
2016 $12,025,782,834 $381,717,086,453
2015 $11,340,795,042 $381,973,042,886
2014 $11,888,032,874 $424,935,874,745
2013 $10,796,782,636 $409,632,675,289
2012 $9,609,532,089 $392,793,464,942
2011 $9,789,361,703 $368,881,143,635
2010 $9,097,044,159 $307,736,419,333
2009 $8,734,745,698 $253,547,358,747
2008 $9,135,419,465 $315,474,615,739
2007 $7,908,412,306 $257,916,133,424
2006 $6,749,838,806 $222,116,541,865
2005 $6,393,234,993 $180,617,467,965
2004 $6,104,141,520 $147,824,370,320
2003 $5,418,315,224 $124,346,358,067
2002 $4,455,127,414 $109,816,201,498
2001 $4,070,867,133 $103,311,640,572
2000 $4,036,809,815 $104,337,372,362
1999 $4,111,857,809 $84,445,473,111
1998 $4,010,111,688 $75,674,336,283
1997 $3,787,023,707 $78,839,008,445
1996 $3,822,547,197 $73,571,233,996
1995 $3,709,396,045 $65,743,666,576
1994 $2,998,505,428 $59,305,093,980
1993 $2,709,193,538 $55,625,170,253
1992 $3,021,942,759 $54,239,171,888
1991 $2,750,216,747 $51,552,165,622
1990 $2,547,328,748 $50,701,443,748
1989 $2,118,655,677 $41,464,995,914
1988 $2,019,503,068 $36,275,674,203
1987 $1,751,293,461 $36,384,908,744
1986 $1,435,038,441 $33,943,612,095
1985 $1,117,797,439 $40,603,650,232
1984 $1,101,807,023 $41,807,954,236
1983 $1,165,729,707 $42,803,323,345
1982 $1,234,474,404 $46,622,718,605
1981 $1,243,509,394 $49,333,424,135
1980 $1,250,198,601 $43,599,160,050
1979 $1,001,288,847 $31,225,659,621
1978 $793,673,402 $23,775,764,225
1977 $625,563,171 $24,871,775,165
1976 $527,936,989 $19,213,158,779
1975 $474,618,321 $14,720,728,249
1974 $376,081,124 $11,651,505,689
1973 $345,616,106 $4,231,243,616
1972 $295,106,628 $1,415,086,929
1971 $264,578,485 $939,893,600
1970 $250,728,796 $685,986,701

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

GeoRank.org/economy/malta/united-arab-emirates | CC BY

GDP per capita in Malta vs United Arab Emirates by year

Malta
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malta UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $43,899 $69,864 $50,274 $79,229
2023 $40,906 $67,057 $49,851 $77,955
2022 $35,639 $60,589 $50,760 $75,072
2021 $38,097 $56,852 $44,119 $68,580
2020 $31,823 $49,972 $37,992 $66,791
2019 $32,422 $51,393 $45,939 $79,816
2018 $33,382 $48,178 $47,135 $77,446
2017 $30,317 $45,764 $43,734 $70,282
2016 $26,459 $41,000 $42,721 $69,987
2015 $25,530 $38,369 $44,910 $73,986
2014 $27,425 $35,206 $52,725 $87,478
2013 $25,416 $33,138 $53,247 $87,526
2012 $22,878 $30,716 $53,142 $89,198
2011 $23,517 $29,426 $51,922 $89,665
2010 $21,947 $28,909 $44,795 $85,120
2009 $21,176 $26,782 $37,803 $84,780
2008 $22,315 $26,654 $50,054 $94,628
2007 $19,444 $25,012 $45,855 $100,813
2006 $16,654 $23,219 $44,343 $106,814
2005 $15,831 $22,227 $38,719 $101,301
2004 $15,212 $21,566 $33,377 $98,661
2003 $13,594 $20,813 $29,660 $92,636
2002 $11,251 $19,532 $27,754 $88,467
2001 $10,358 $18,435 $27,745 $90,370
2000 $10,348 $18,214 $29,866 $92,899
1999 $10,609 $16,898 $25,856 $87,658
1998 $10,408 $16,219 $24,889 $90,229
1997 $9,893 $15,465 $27,983 $96,009
1996 $10,062 $14,661 $28,323 $94,620
1995 $9,828 $13,950 $27,003 $93,702
1994 $8,000 $12,938 $25,473 $89,959
1993 $7,296 $12,103 $25,033 $86,330
1992 $8,220 $11,429 $25,648 $87,509
1991 $7,559 $10,784 $25,691 $87,250
1990 $7,192 $10,086 $26,710 $88,455
1989 $6,041 - $23,167 -
1988 $5,814 - $21,570 -
1987 $5,084 - $23,113 -
1986 $4,195 - $23,132 -
1985 $3,322 - $29,468 -
1984 $3,333 - $32,012 -
1983 $3,527 - $34,650 -
1982 $3,788 - $39,972 -
1981 $3,898 - $44,854 -
1980 $3,948 - $42,925 -
1979 $3,196 - $34,238 -
1978 $2,559 - $29,379 -
1977 $2,038 - $35,020 -
1976 $1,727 - $31,197 -
1975 $1,560 - $27,117 -
1974 $1,245 - $23,823 -
1973 $1,144 - $9,696 -
1972 $976 - $3,675 -
1971 $874 - $2,805 -
1970 $828 - $2,394 -

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

GeoRank.org/economy/malta/united-arab-emirates | CC BY

Malta's GDP per capita is $43,899, ranking 28/197, compared to $50,274 in the United Arab Emirates, ranking 24/197. Adjusted for purchasing power (GDP per capita PPP), Malta ranks 25th at $69,864, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Malta UAE
Gross domestic product
$25B
2024
$552B
2024
GDP rank
119/197
2024
27/197
2024
GDP growth
6.8%
2023-2024
3.99%
2023-2024
GDP per capita
$43,899
2024
$50,274
2024
GDP per capita rank
28/197
2024
24/197
2024
GDP per capita, PPP
$69,864
2024
$79,229
2024
GDP per capita PPP rank
25/197
2024
16/197
2024
Government debt
$11.5B
2024
$193B
2024
Debt-to-GDP ratio
46.2%
2024
34.9%
2024
Government debt per person
$20,269
2024
$17,568
2024
Government debt per person rank
31/185
2024
36/185
2024
Average annual personal income after taxes
$23,692
2026
$40,522
2026
Market capitalization of domestic companies
$4.29B
2024
$1.05T
2024
Number of millionaires n/a
339,000
2025
Number of billionaires n/a
6
2025
Income share by richest 10%
27.7%
2022
20.5%
2018
Income share by poorest 10%
2.7%
2022
2.8%
2018
Government expenditure, % of GDP
37.3%
2024
21.4%
2024
Consumer prices inflation
1.65%
2023-2024
1.7%
2023-2024
Central bank interest rate n/a
3.65%
2025
Unemployment rate
3.12%
2024
1.88%
2024
Population
581729
11686438

Spending and national debt comparison by year

Malta
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Malta UAE
Government spending Government debt Government spending Government debt
2024 37.3% 46.2% 21.4% 34.9%
2023 36.1% 46.8% 22.7% 31.9%
2022 38.3% 50.1% 22.7% 31.5%
2021 39.4% 49.6% 25.9% 35.7%
2020 42.1% 48.6% 30.5% 30.1%
2019 34.9% 39.2% 27.4% 25.8%
2018 34.5% 41.4% 25.9% 20.7%
2017 32.7% 45.6% 27.2% 21.2%
2016 35.5% 53.1% 31.7% 18.6%
2015 37.8% 55% 26.4% 15.6%
2014 39.6% 60.7% 31.4% 13.5%
2013 40.1% 64.9% 28.9% 15.3%
2012 41.7% 65.6% 27.8% 20.2%
2011 41.5% 68.9% 29.6% 20.4%
2010 40.1% 65% 30.4% 18.3%
2009 41.1% 66% 35% 21.1%
2008 42.1% 61.5% 22% 8.95%
2007 41.2% 62% 17.7% 8.89%
2006 42.5% 64.5% 15.6% 5.05%
2005 42.5% 70.2% 15.7% 4.48%
2004 42% 70.4% 17.7% 4.08%
2003 45.6% 68.6% 20% 3.33%
2002 43.6% 65.1% 21.3% 3.43%
2001 44.4% 70% 25.2% 2.69%
2000 42.9% 64.4% 21.8% 3.12%
1999 - 69.8% 24.3% 4.73%
1998 - 66.4% 25.8% 4.18%
1997 - 60.8% 22.6% 2.86%
1996 - 51.5% 27.6% 3.48%
1995 - 45.3% 26.1% 5.06%
1994 - - 30.1% 5.58%
1993 - - 31.5% 6.01%
1992 - - 29.6% 5.31%
1991 - - 36% 4.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20).

GeoRank.org/economy/malta/united-arab-emirates | CC BY

In 2024, Malta's government spending was $9.32B, accounting for 37.3% of its GDP, while the United Arab Emirates spent $118B, or 21.4% of GDP.

Debt-to-GDP ratio is 46.2% in Malta and 34.9% in the United Arab Emirates, ranking 118/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Malta

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Malta UAE
2024 -3.58% 6.41%
2023 -4.65% 5.82%
2022 -5.31% 9.8%
2021 -6.95% 3.96%
2020 -8.72% -2.42%
2019 0.72% 2.5%
2018 1.86% 3.65%
2017 3.4% -0.16%
2016 1.1% -2.95%
2015 -0.84% -6.35%
2014 -1.49% 1.74%
2013 -2.19% 7.99%
2012 -3.31% 8.59%
2011 -2.99% 5.05%
2010 -2.22% 0.52%
2009 -3.11% -6.13%
2008 -4.06% 17.6%
2007 -2.05% 17.1%
2006 -2.46% 20.2%
2005 -2.83% 16%
2004 -4.28% 6.4%
2003 -9.04% 2.35%
2002 -5.62% -1.24%
2001 -6.5% 1.21%
2000 -5.83% 10.7%
1999 - 1.31%
1998 - 1%
1997 - 6.71%
1996 - 0.92%
1995 - 3.58%
1994 - -1.78%
1993 - -2.89%
1992 - 3.34%
1991 - 3.89%

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

GeoRank.org/economy/malta/united-arab-emirates | 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 the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 25 years, Malta recorded a fiscal deficit in 21 of those years, while the United Arab Emirates ran a deficit in 6 years. On average, Malta posted an annual deficit equal to 3.24% of GDP, compared to surplus of 5.13% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Malta

United Arab Emirates
1x
Year Consumer prices inflation
Malta UAE
2024 1.65% 1.7%
2023 5.09% 1.6%
2022 6.15% 4.8%
2021 1.5% -0.1%
2020 0.64% -2.1%
2019 1.64% -1.9%
2018 1.16% 3.1%
2017 1.36% 2%
2016 0.64% 1.6%
2015 1.1% 4.1%
2014 0.31% 2.3%
2013 1.18% 1.1%
2012 2.38% 0.7%
2011 2.96% 0.9%
2010 1.52% 0.9%
2009 2.08% -4.7%
2008 4.26% 12.3%
2007 1.25% 11.1%
2006 2.77% 9.3%
2005 3.01% 6.2%
2004 2.79% 5%
2003 1.3% 3.1%
2002 2.19% 2.9%
2001 2.93% 2.8%
2000 2.37% 1.3%
1999 2.13% 2.1%
1998 2.39% 2%
1997 3.11% 3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/malta/united-arab-emirates | CC BY

Over the past 28 years, Malta has recorded an average annual inflation rate of 2.21%, compared with 2.75% in the United Arab Emirates. In 2024, inflation was 1.65% in Malta and 1.7% in the United Arab Emirates.

Top exports between countries

Malta
Export category Export value
Processed food, beverages & tobacco $13.1M
Raw agricultural goods $9.67M
Machinery & equipment $5.37M
Wood & paper products $2.61M
Precious metals & jewellery $1.75M
Textiles & consumer goods $1.44M
Chemicals & pharma $1.23M
Metals $519K
Animal & marine products $98K
Miscellaneous $44K
UAE
Export category Export value
Machinery & equipment $37.9M
Chemicals & pharma $11M
Wood & paper products $2.88M
Metals $1.48M
Textiles & consumer goods $1.39M
Processed food, beverages & tobacco $1.3M
Precious metals & jewellery $1.22M
Raw materials & minerals $607K
Raw agricultural goods $554K
Miscellaneous $37K

Balance of trade

Malta UAE
Current account balance
$1.78B
2024
$80B
2024
Current account balance ranking
47/190
2024
9/190
2024
Current account balance, % of GDP
+7.12%
2024
+14.5%
2024
Goods imports
$7.56B
2024
$400B
2024
Goods exports
$4.58B
2024
$467B
2024
Service imports
$17.4B
2024
$117B
2024
Service exports
$25B
2024
$181B
2024
Imports of goods and services, % of GDP
99.7%
2024
92.2%
2023
Exports of goods and services, % of GDP
118.5%
2024
106.8%
2023

Economic freedom indices

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

Malta UAE
Economic freedom 68.2 71.9
Economic freedom ranking 49/197 29/197
Property rights 85.5 62.9
Government integrity 54.3 65.3
Judicial effectiveness 80.2 34.4
Tax burden 68.5 99.9
Government spending 58.4 85.1
Fiscal health 63.2 97.6
Business freedom 83.2 84.5
Labor freedom 62.6 63.2
Monetary freedom 73.1 81.2
Trade freedom 79.4 78.6
Investment freedom 60 50
Financial freedom 50 60

Economic freedom comparison by year

Malta
United Arab Emirates
1x
Year Economic freedom index
Malta UAE
2026 68.2 71.9
2025 66.8 71.6
2024 64.5 71.1
2023 67.5 70.9
2022 71.5 70.2
2021 70.2 76.9
2020 69.5 76.2
2019 68.6 77.6
2018 68.5 77.6
2017 67.7 76.9
2016 66.7 72.6
2015 66.5 72.4
2014 66.4 71.4
2013 67.5 71.1
2012 67 69.3
2011 65.7 67.8
2010 67.2 67.3
2009 66.1 64.7
2008 66 62.6
2007 66.1 62.6
2006 67.3 62.2
2005 68.9 65.2
2004 63.3 67.2
2003 61.1 73.4
2002 62.2 73.6
2001 62.9 74.9
2000 58.3 74.2
1999 59.3 71.5
1998 61.2 72.2
1997 57.9 71.9
1996 55.8 71.6
1995 56.3 -

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

GeoRank.org/economy/malta/united-arab-emirates | CC BY

The Economic Freedom Index for Malta is 68.2, ranking 49/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malta UAE
Services, % of GDP
81.8%
2024
54.9%
2024
Industry, % of GDP
10.7%
2024
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
0.23%
2024
0.77%
2024
GNI, Atlas method
$20.9B
2024
$566B
2024
GNI per capita, PPP
$61,340
2024
$81,530
2024
Total reserves including gold
$1.42B
2024
$238B
2024
Total reserves ranking
137/177
2024
14/177
2024
Net foreign direct investment
-$6.13B
2024
$31.5B
2024
Net inflows of foreign direct investment
$42.6B
2024
$45.6B
2024
Net outflows of foreign direct investment
$36.5B
2024
$77.2B
2024
Poverty at national poverty lines
16.7%
2021
19.5%
2020
Gross capital formation, % of GDP
19%
2024
26.6%
2023

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/united-arab-emirates | 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 (1991–2024, 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 (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.