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Manufacture of other fabricated metal products nec
The strengths of the Economy of Malta are its limestone, a favourable geographic location, and a productive labour force. Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics), tourism and financial services. In 2003, over 1.2 million tourists visited the island. Per capita GDP of $23,200 places Malta just above the middle of the list of European Union (EU) countries in terms of affluence. The island has joined the EU in 2004 despite having been divided politically over the question earlier. A sizeable budget deficit was a key concern, but recent initiatives by government have changed the situation dramatically enough for the country to be admitted into the eurozone as of 1 January 2008.
Economy of Malta |
Currency |
Euro since 1 January 2008 |
Statistics |
GDP |
$9.65 billion (2009 est.) |
GDP growth |
-4% (2009 est.) |
GDP per capita |
$23,800 (2009 est.) |
GDP by sector |
agriculture: 1.4%; industry: 18%; services: 80.6% (2007 est.) |
Inflation (CPI) |
2.7% (2009 est.) |
Gini index |
26 (2007) |
Labour force |
171,000 (2008 est.) |
Labour force by occupation |
agriculture: 2.3%; industry: 29.6%; services: 68% (2005 est.) |
Unemployment |
6.2% (August 2010 est.) |
Main industries |
tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services |
External |
Exports |
$2.459 billion (2009 est.) |
Export goods |
electrical machinery, mechanical appliances, fish and crustaceans, pharmaceutical products, printed material |
Main export partners |
Germany 13.5%, Singapore 13%, France 12.2%, United States 9.6%, United Kingdom 8.2%, Hong Kong 6.7%, Japan 6.4%, Italy 4.7% (2008) |
Imports |
$3.94 billion (2009 est.) |
Import goods |
mineral fuels and oils, electrical machinery, non-electrical machinery, aircraft and other transport equipment, plastic and other semi-manufactured goods; food, drink, tobacco |
Main import partners |
Italy 28%, United Kingdom 13.5%, France 8.2%, Germany 7.4%, Singapore 6.4% (2008) |
Gross external debt |
$188.8 million (2005) |
Public finances |
Public debt |
66.2% of GDP (2009 est.) |
Revenues |
$3.068 billion (2009 est.) |
Expenses |
$3.511 billion (2009 est.) |
Foreign reserves |
$348 million (31 December 2009 est.) |
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars |
From Wikipedia, the free encyclopedia : Manufacture of other fabricated metal products nec
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