Malta’s gross domestic product grew by 3% in real terms in the last quarter, with a 5.7% nominal growth, according to the latest statistics by the National Statistics Office. Growth came from domestic demand at a 1.6% increase and foreign trade with a 1.5% increase. Total GDP for the third quarter of this year was โฌ6.34 billion. GNI came at โฌ5.7 billion.
Final consumption expenditure increased by 2.5% and this was the result of an increase in the expenditure of households and also the increase in government expenditure.
Gross fixed capital formation decreased by 1.4% in real terms. Real value in exports has also increased in the last quarter compared to the previous quarter, but are still lower compared to last year’s figures.
The GDP growth rate went down from its 2021 peak as the economy accelerated at rapid speed in the Covid re-opening and waned down again in 2022. It picked up again in 2023 and waned down again in 2024. GDP growth in the 2nd quarter was at 2.7% in volume terms and 5.2% in nominal terms.
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