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Malta

EU member state In the euro area Population: 0.57 M (2025)

Source: Eurostat, data retrieved 2026-10-16; each indicator links to its dataset · Methodology and technical sheets

Economic situation

Malta: real GDP grew 4.5% year on year (Q2 2026); previous quarter: 4.2%; EU27: 1.5%. Harmonised inflation (HICP) stands at 2.4% (09/2026), below the EU27 average (3.8%); core inflation, excluding energy and food, is 2.5%. The unemployment rate stands at 3.4% (08/2026), up 0.8 percentage points on a year earlier; the EU27 rate is 6.2%. In 2025, general government recorded a deficit of 2.2% of GDP and public debt reached 46.4% of GDP (Treaty reference values: 3% and 60%). The current account shows a surplus of 3.5% of GDP (Q2 2026). Its best European position is in "HICP information and communication" (1 of 36) and its worst in "Real labour productivity per hour, annual change" (31 of 32).

Key indicators

GDP growth4.5%Q2 2026+1.7 pp year on year4 of 34 in EuropeInflation (HICP)2.4%09/2026 e0.0 pp year on year6 of 36 in EuropeUnemployment rate3.4%08/2026+0.8 pp year on year4 of 30 in EuropeEmployment rate (20–64)84.0%Q2 2026+0.6 pp year on year1 of 34 in EuropeGovernment balance (% GDP)-2.2%2025+1.2 pp year on year12 of 27 in EuropePublic debt (% GDP)46.4%2025+0.5 pp year on year10 of 27 in EuropeCurrent account (% GDP)3.5%Q2 2026-2.7 pp year on year9 of 32 in EuropeGDP per capita (EU = 100)1102025+0.9% year on year11 of 33 in Europe

Trends

Activity: GDP, consumption and investment (real year-on-year change, %)
Prices: headline and core inflation (HICP, %)
Labour: total and youth unemployment (%)
Government balance (% of GDP)
Public debt (% of GDP)
External sector: current account, goods and services (% of GDP)
Economic sentiment (long-term average = 100)
Government expenditure by function (COFOG) →What Malta spends on: 10 functions and 69 sub-functions compared with the EU27, and the split by level of government.Regions of Malta →4 regions with indicators on population, GDP, jobs, income and well-being (NUTS 1: 1 · NUTS 2: 1 · NUTS 3: 2).
Regional competitiveness (RCI) →Malta's 1 regions in the Commission's index: institutions, infrastructure, labour market, innovation…Regional social progress (EU-SPI) →Malta's 1 regions: basic needs, foundations of wellbeing and opportunity

All indicators

141 indicators for Malta. Its NUTS 1, 2 and 3 regions, with their own indicators, are on the country's regions page.

GDP and national accounts

19
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Nominal GDP (quarterly) M€Q2 20266,535 M€+6.8%32 of 35
Real GDP, year-on-year change (quarterly) %Q2 20264.5%+1.7 pp4 of 34
Real GDP, chain-linked volume (quarterly) M€ (2020)Q2 20265,126 M€+4.5%32 of 35
Nominal GDP (annual) M€202524,664 M€+6.9%34 of 37
Real GDP growth (annual) %20254.7%-0.6 pp2 of 35
GDP per capita € per inhabitant202542,390 €+4.6%14 of 35
Real GDP per capita € (2020) per inhabitant202534,360 €+2.4%14 of 35
Real GDP per capita, annual change %20252.4%0.0 pp12 of 34
GDP per capita in purchasing power standards PPS per inhabitant202545,952 PPS+4.9%11 of 33
GDP per capita in PPS relative to the EU27 index EU27 = 1002025110+0.9%11 of 33
Household consumption, real year-on-year change %Q2 20263.7%-1.6 pp7 of 34
Government consumption, real year-on-year change %Q2 202614.7%+10.6 pp1 of 34
Gross fixed capital formation, real year-on-year change %Q2 20265.1%-0.2 pp15 of 33
Exports, real year-on-year change %Q2 20263.0%+1.0 pp21 of 34
Imports, real year-on-year change %Q2 20264.1%+0.3 pp15 of 34
Industry share of the economy % of GVA20257.1%-0.5 pp35 of 37
Construction share of the economy % of GVA20254.0%-0.2 pp35 of 37
Services share of the economy % of GVA202588.3%+0.6 pp2 of 37
Public administration, education and health share of the economy % of GVA202515.1%+0.2 pp31 of 37

Prices

25
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Consumer price level (HICP) index 2015 = 10009/2026132.29+2.4%27 of 36
HICP, annual rate of change %09/2026 e2.4%0.0 pp6 of 36
Core HICP (excluding energy, food, alcohol and tobacco) %09/2026 e2.5%+0.1 pp11 of 36
HICP energy %09/2026 e0.0%0.0 pp2 of 36
HICP food, alcohol and tobacco %09/2026 e2.4%-0.9 pp24 of 36
HICP services %09/2026 e3.4%+0.4 pp9 of 36
HICP non-energy industrial goods %09/2026 e0.8%-0.3 pp16 of 36
HICP alcoholic beverages and tobacco %09/20261.8%+0.1 pp6 of 36
HICP clothing and footwear %09/20262.2%+2.9 pp31 of 36
HICP furnishings and household equipment %09/20260.8%-1.0 pp17 of 36
HICP health %09/20262.9%+0.2 pp16 of 36
HICP information and communication %09/2026-3.7%-2.1 pp1 of 36
HICP recreation, sport and culture %09/20263.6%+1.4 pp16 of 36
HICP education services %09/20263.2%-2.0 pp17 of 36
HICP insurance and financial services %09/20260.8%-2.7 pp7 of 36
HICP personal care and miscellaneous goods and services %09/20263.6%-0.2 pp21 of 36
HICP, annual average rate %20252.4%0.0 pp12 of 35
HICP electricity %09/20260.0%0.0 pp9 of 34
HICP diesel %09/20260.0%0.0 pp2 of 35
HICP petrol %09/20260.0%0.0 pp2 of 35
House prices index 2015 = 100Q2 2026 p183.9+6.9%16 of 28
House prices, annual rate of change %Q2 2026 p6.9%+1.3 pp14 of 29
House sales, annual rate of change %Q2 2026 p11.5%+13.8 pp3 of 18
Household electricity price (2 500–4 999 kWh, taxes included) €/kWhH1 2026 p0.1268 €/kWh+0.6%9 of 35
Price level relative to the EU27 index EU27 = 100202592.2-0.4%15 of 36

Government

21
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Government deficit (−) or surplus (+) % of GDP2025-2.2%+1.2 pp12 of 27
Government debt % of GDP202546.4%+0.5 pp10 of 27
Government debt, total amount M€202511,397 M€+7.3%2 of 27
Government debt (quarterly) % of GDPQ1 2026 p45.9%-0.6 pp10 of 28
Government debt held by non-residents % of GDP202510.0%+0.2 pp27 of 28
Government debt held by the central bank % of GDP20257.5%-0.4 pp14 of 28
Government debt held by resident banks % of GDP202515.4%+0.6 pp9 of 27
Government debt held by insurers, funds and other financial corporations % of GDP20252.1%-0.3 pp16 of 27
Government debt held by households % of GDP202510.4%+0.3 pp4 of 18
Average remaining maturity of government debt years20257.1-4.1%15 of 24
Net issuance of government debt securities % of GDPQ1 2026-0.7%-5.6 pp23 of 27
Government deficit (−) or surplus (+) (quarterly) % of GDPQ1 2026 p-5.5%-4.0 pp23 of 30
Total government revenue % of GDP202534.8%+1.0 pp28 of 29
Total government expenditure % of GDP202537.0%-0.2 pp28 of 29
Government interest payments % of GDP20251.20%0.00 pp12 of 29
Apparent cost of government debt %20252.7%+0.1 pp19 of 25
Government investment (GFCF) % of GDP20253.10%-0.10 pp25 of 29
Tax burden (taxes and social contributions) % of GDP202429.3%+2.6 pp27 of 30
Taxes on income and wealth % of GDP202414.8%+2.8 pp11 of 30
VAT % of GDP20246.1%0.0 pp27 of 30
Social contributions % of GDP20245.1%0.0 pp26 of 30

Government expenditure by function (COFOG)

20
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
General public services expenditure (COFOG) % of GDP20245.0%+0.3 pp21 of 30
Defence expenditure (COFOG) % of GDP20240.5%+0.1 pp28 of 30
Public order and safety expenditure (COFOG) % of GDP20241.5%+0.1 pp23 of 30
Economic affairs expenditure (COFOG) % of GDP20247.6%+0.5 pp2 of 30
Environmental protection expenditure (COFOG) % of GDP20241.2%+0.1 pp2 of 30
Housing and community amenities expenditure (COFOG) % of GDP20240.6%-0.2 pp14 of 30
Health expenditure (COFOG) % of GDP20245.0%0.0 pp28 of 30
Recreation, culture and religion expenditure (COFOG) % of GDP20241.5%0.0 pp6 of 30
Education expenditure (COFOG) % of GDP20244.7%+0.6 pp20 of 30
Social protection expenditure (COFOG) % of GDP20249.8%+0.2 pp29 of 30
General public services share of government expenditure (COFOG) %202413.3%+0.2 pp8 of 30
Defence share of government expenditure (COFOG) %20241.4%+0.2 pp26 of 30
Public order and safety share of government expenditure (COFOG) %20243.9%0.0 pp13 of 30
Economic affairs share of government expenditure (COFOG) %202420.3%+0.5 pp1 of 30
Environmental protection share of government expenditure (COFOG) %20243.3%+0.1 pp2 of 30
Housing and community amenities share of government expenditure (COFOG) %20241.7%-0.5 pp12 of 30
Health share of government expenditure (COFOG) %202413.4%-0.7 pp21 of 30
Recreation, culture and religion share of government expenditure (COFOG) %20243.9%-0.4 pp4 of 30
Education share of government expenditure (COFOG) %202412.6%+1.1 pp8 of 30
Social protection share of government expenditure (COFOG) %202426.1%-0.6 pp29 of 30

Business and activity

10
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Industrial production index 2021 = 10008/2026 p111.2+6.8%2 of 34
Retail trade, volume of sales index 2021 = 10008/2026128.1-2.4%6 of 32
Residential building permits (useful floor area) index 2021 = 100Q2 2026150.2-4.2%4 of 35
Economic sentiment indicator index (average = 100)04/2026107.5-1.0%1 of 32
Consumer confidence balance09/20265.0+177.8%1 of 30
Industrial confidence balance04/2026-1.8-109.9%15 of 32
Active enterprises enterprises202459,496+5.4%31 of 34
Enterprise birth rate %202414.4%-2.7 pp4 of 34
Enterprise death rate %2024 p4.4%-6.8 pp3 of 33
R&D expenditure % of GDP20240.61%+0.03 pp30 of 32

Labour market and productivity

22
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Unemployment rate % of labour force08/20263.4%+0.8 pp4 of 30
Youth unemployment rate (under 25) % of labour force08/20269.9%+1.8 pp3 of 24
Unemployed persons thousand persons08/202612+33.3%1 of 30
Unemployment rate (annual) % of labour force20253.1%-0.1 pp2 of 34
Long-term unemployment rate % of labour force20250.6%-0.1 pp2 of 34
Employment rate (20–64) % of populationQ2 202684.0%+0.6 pp1 of 34
Employed persons (15–74) thousand personsQ2 2026338+3.0%32 of 34
Employed persons per inhabitant % of population202558.1%+0.9 pp3 of 33
Hours worked per inhabitant hours per year20251,075+2.8%3 of 32
Labour productivity per hour worked relative to the EU27 index EU27 = 100202580.2-2.0%17 of 31
Labour productivity per person employed, EU27 = 100 index EU27 = 100202592.4-0.5%15 of 31
Real labour productivity per hour, annual change %2025-0.3%-1.8 pp31 of 32
Nominal unit labour cost, annual change %20253.5%-4.1 pp13 of 33
Hours worked per employed person hours per year20251,850+1.1%8 of 32
Compensation per employee € per year202536,248 €+4.3%17 of 33
Compensation per hour worked € per hour202520.2 €+3.1%18 of 31
Compensation per employee in PPS, EU27 = 100 index EU27 = 100202582.3+0.4%17 of 31
Compensation per hour worked in PPS, EU27 = 100 index EU27 = 100202570.7-1.1%19 of 30
Labour costs (B–S) index 2020 = 100Q2 2026 p124.1+2.8%21 of 26
Minimum wage € per monthH2 2026994 €+3.4%15 of 29
Job vacancy rate (B–S) %Q4 2025 p3.3%+0.4 pp3 of 31
Population aged 25–64 with tertiary education %202537.7%+1.4 pp18 of 34

Households

7
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Household saving rate % of disposable income2024 p18.8%+4.1 pp4 of 27
Real household disposable income per capita, annual change %2024 p8.1%+5.6 pp1 of 27
Median equivalised income PPS202524,054 PPS+9.0%11 of 30
Gini coefficient of disposable income 0–100202529.2-6.7%15 of 30
People at risk of poverty or social exclusion (AROPE) % of population202519.4%-0.2 pp16 of 30
Housing cost overburden rate % of population20256.0%+0.1 pp13 of 30
Household debt (loans) % of GDP202548.5%+1.8 pp19 of 31

External sector and financing

9
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Current account balance % of GDPQ2 20263.5%-2.7 pp9 of 32
Goods balance % of GDPQ2 2026-14.8%+1.7 pp28 of 32
Services balance % of GDPQ2 202631.4%-3.3 pp1 of 32
Net international investment position % of GDPQ2 202693.9%+10.7 pp4 of 32
Net direct investment % of GDPQ2 2026-19.0%-6.0 pp32 of 32
Exports of goods M€20253,458 M€-1.1%27 of 27
Trade balance in goods M€2025-5,177 M€+1.1%15 of 27
10-year government bond yield %09/20264.19%+0.64 pp20 of 27
Real effective exchange rate (42 partners, CPI-deflated) index 2015 = 10007/2026110.67-1.9%12 of 30

Demography

6
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Population on 1 January persons2025574,250+1.9%36 of 38
Total population change per 1,000 inhabitants202524.1+26.8%2 of 39
Net migration (including statistical adjustment) per 1,000 inhabitants202523.9+27.8%2 of 39
Median age of population years202540.0+0.5%33 of 38
Old-age dependency ratio (65+ / 15–64) %202526.6%+0.1 pp6 of 38
Life expectancy at birth years202483.0-0.1%10 of 37

Public-sector efficiency

2
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Employment in public administration and defence (NACE O) thousand persons202521+4.4%25 of 26
Total employment (national accounts) thousand persons2025338+3.9%24 of 26