Economy—overview: Significant resources are limestone, a favorable geographic location, and a productive labor 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 and textiles), and tourism; the state-owned Malta drydocks employs about 3,800 people. In 1998, almost 1 million tourists visited the island. Per capita GDP of roughly $13,000 places Malta in the ranks of the less affluent EU countries. The island is divided politically over the question of joining the EU. The sizable budget deficit remains a key concern.

GDP: purchasing power parity—$5 billion (1998 est.)

GDP—real growth rate: 4% (1998 est.)

GDP—per capita: purchasing power parity—$13,000 (1998 est.)

GDP—composition by sector:
agriculture: 3%
industry: 26%
services: 71% (1997 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 2.8% (1997 est.)

Labor force: 148,085 (September 1996)

Labor force—by occupation: public services 34%, other services 32%, manufacturing and construction 22%, agriculture 2% (1996)

Unemployment rate: 5% (1997)

Budget:
revenues: $1.32 billion
expenditures: $1.76 billion, including capital expenditures of $NA (1998 est.)

Industries: tourism; electronics, ship building and repair, construction; food and beverages, textiles, footwear, clothing, tobacco

Industrial production growth rate: NA%

Electricity—production: 1.425 billion kWh (1996)

Electricity—production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity—consumption: 1.425 billion kWh (1996)

Electricity—exports: 0 kWh (1996)

Electricity—imports: 0 kWh (1996)

Agriculture—products: potatoes, cauliflowers, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs

Exports: $1.7 billion (f.o.b., 1997)

Exports—commodities: machinery and transport equipment, manufactures (1996)

Exports—partners: France 18%, US 15%, Germany 15%, UK 8%, Italy 6% (1997)

Imports: $2.3 billion (f.o.b., 1997)

Imports—commodities: machinery and transport equipment, manufactured goods; food, drink, and tobacco

Imports—partners: Italy 20%, France 16%, UK 15%, Germany 10%, US 8% (1997)

Debt—external: $130 million (1997)

Economic aid—recipient: $NA

Currency: 1 Maltese lira (LM) = 100 cents

Exchange rates: Maltese liri (LM) per US$1—0.3797 (January 1999), 0.3884 (1998), 0.3857 (1997), 0.3604 (1996), 0.3529 (1995), 0.3776 (1994)

Fiscal year: 1 April—31 March