Malta’s National Statistics office has released the figures for 2016 and, as expected, these show that the economy is performing very well overall.
In real terms the Maltese economy grew at the significant rate of 5.0%. This places Malta amongst the fastest growing countries in the EU28 (although data still needs to be released for some countries) and practically placing it amongst the top three performers. It is important to note that this performance is not a one-off result but one which has been sustained over the last years.
Manufacturing, which provides a solid underpinning to the economy as a whole, performed well. In 2016 the GVA generated by this sector (in market terms) increased by circa €15.6 million (or +2.1%) on 2015 levels. Furthermore, this sector contributed to 2.9% of the total growth generated in Malta (at market prices) during 2016. The positive performance of the manufacturing sector is also being reflected in the number of jobs being created within this sector.
The full report may be accessed here.