LA VALLETTA (MALTA) (ITALPRESS/MNA) – Maltàs gross domestic product registered an increase during the first three months of 2024 compared to the same period last year, but has dipped slightly since the end of 2023. According to the National Statistics Office, the GDP grew by 4.6% during the first quarter of this year, now standing at 4.9 billion in nominal terms, or roughly 8,800 for each person in Malta. GDP calculates the value of goods and services produced by Maltàs economy, effectively measuring how well a country’s economy is performing.
While this is 8.4% (or some 380 million) higher than at the same point last year, it represents a slight dip from the previous two quarters, when it had hit the 5 billion mark. The data indicates that Maltàs economic growth is largely driven by its services industry, with financial services, real estate and professional or scientific services all recording strong growth rates over the previous year. Likewise, exports of goods and services remain a driving force of Maltàs economy, although their contribution to Maltàs economic growth has dipped compared to previous quarters.
The latest data also shows that Maltàs GDP growth remains higher than any other EU country. EU data published earlier this month shows that GDP across both the EU and the Eurozone had grown marginally by 0.4% in the first quarter of 2024, compared to the first three months of 2023. Maltese Prime Minister Robert Abela posted on X that Maltàs economy had grown at twelve times the rate of that across the rest of the European bloc.
(ITALPRESS).
– Photo credit: Malta Tourism Office –
