Economy of Malta

The Maltese economy is relatively positive compared to the other EU newcomers. The two traditional economic sectors are agriculture and fisheries, the fishing in Malta today is insignificant and agriculture no longer has much meaning. Gozo lives, however, still mainly from agriculture and fisheries. The largest employer in the country is the Malta Drydocks, the second largest shipyard in Europe. Even with Libya and the People's Republic of China drives Malta preferred trade. So there is also a separate Chinese shipyard in Valetta.

Tourism

Tourism is, of course, because of the fame and popularity of Malta as a holiday destination, a large role. Most tourists come from Britain, Germany and Italy. Within the tourism sector - particularly in summer - the language travel tourism a key factor. Other industries are shipping and Malta Freeport transhipment center.

Agriculture

Of the total area of the Maltese Islands about four-fifths are agricultural, for dryland farming and irrigation field cultivation, used. The majority of agricultural land is cultivated in the rainy season, only 5% is irrigated.

Waste management

In the absence of adequate waste management Malta has a big garbage problem for years.

Economic Development

European companies are lured with tax benefits since the 1970s. Thus, about 55 German companies for export produce, inter alia, the company Playmobil, Menrad, Lloyd Shoes.

From 1965 until today, the number of tourists has about tenfold. Today, there are over a million tourists annually.

Film studios with large water tanks for over-and underwater shots.

Was founded in 1992 in Malta its own stock exchange. Due to the EU accession of the entire financial services sector developed positively in other respects. This is true both for the banking, such as the insurance sector. Here, in particular the regulatory environment plays a crucial role, as well as the opportunity for Malta -domiciled financial services their products and services across Europe as part of the services or freedom of establishment to offer.

Gross Domestic Product ( GDP): EUR 4.9 billion (2006)

GDP per capita: about EUR 12,000 (2006); 2005 approximately EUR 11,370

IMPORT / EXPORT

Import: Malta to Italy, the USA, Great Britain, France and Germany an intense import ratio. Is imported bottled water, food, cars, engines and transmissions for ship and boat building, clothing, scientific and medical equipment.

Export: Great Britain, Germany and Italy have a very close relationship with export Malta. Be exported, for example ships and boats, televisions, toys, wheat, barley, potatoes, flowers, fruit and vegetables.

Inflation

The inflation rate decreased in 1998 to 2.4% and could be held in 1999 at 2.1%, a relatively low level. In 2000, the inflation rate rose to 2.4% low. As a result of various tax and financial policies a rebound to 2.5% in 2001 was recorded. 2002, the inflation rate has remained relatively low. However, it was that exercised in some areas of price controls, artificially lowered.