Chamber of Commerce Country Factsheet Last update: 12.07.2018
Your advisors at the Chamber of Commerce
- Edith Stein+352423939482
- Anne-Catherine Fohl+352423939372
With a civilization that dates back thousands of years, Malta boasts some of the oldest megalithic sites in the world. Situated in the center of the Mediterranean, Malta’s islands have long served as a strategic military asset, with the islands at various times having come under control of the Phoenicians, Carthaginians, Greeks, Romans,
Source: The CIA World Factbook - Malta
Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008.
Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It maintains one of the lowest unemployment rates in Europe, and growth has fully recovered since the 2009 recession. In 2014 through 2016, Malta led the euro zone in growth, expanding more than 4.5% per year.
Malta’s services sector continues to grow, with sustained growth in the financial services and online gaming sectors. Advantageous tax schemes remained attractive to foreign investors, though EU discussions of anti-tax avoidance measures have raised concerns among Malta’s financial services and insurance providers, as the measures could have a significant impact on those sectors. The tourism sector also continued to grow, with 2016 showing record-breaking numbers of both air and cruise passenger arrivals.
Malta’s GDP growth remains strong and is supported by a strong labor market. The government has implemented new programs, including free childcare, to encourage increased labor participation. The high cost of borrowing and small labor market remain potential constraints to future economic growth. Increasingly, other EU and European migrants are relocating to Malta for employment, though wages have remained low compared to other European countries. Inflation remains low.
|Gross domestic product, constant prices|
|Gross domestic product, current prices|
U.S. dollars (Billions)
|Gross domestic product per capita, current prices|
U.S. dollars (Units)
|Inflation, average consumer prices|
|Volume of imports of goods and services|
|Volume of exports of goods and services|
Percent of total labor force
|Current account balance|
U.S. dollars (Billions)
|Current account balance|
Percent of GDP
Source: IMF Statistics - Malta
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 29.04.1994 (Memorial 1995, A No.96, p.2231)
- Effective as of 01.01.1996 (Memorial 1995, A No.96, p.2231)
- Amendment of the Convention form 30.11.2011 (Memorial 2013, A No.114, p.1708)
- Effective as of 01.01.2014 (Memorial 2013, A No.114, p.1708)
Air Services agreement
- Agreement from 17.6.1991 (Memorial 1995, A, p. 1592)
- Effective as of 03.11.1995 (Memorial 1995, A, p. 2262)
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Malta
Embassy of the Grand Duchy of Luxembourg in Malta
Ambassador with residence in Rome: Mr Paul DÜHR
90, Via di Sante Croce in Gerusalemme
Tel: (+39) 06 77 20 11 77/78
Fax: (+39) 06 77 20 10 55
Mr David TONNA
Palazzo Pietro Sitges, 90, Strait Street
Valletta VLT 1436, Malta
Tel: (+356) 21 23 22 71
Fax: (+356) 21 24 42 91
Economic and Commercial Attaché (FIT) in charge of Malta
Economic and Commercial Attaché: Mrs Sophie MASSAGÉ
Via Omero, 8
Tel: (+39) 06 36 00 06 99
Country risk as defined by Office du Ducroire for Malta
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other useful links
- CIA World Factbook on Malta
- Malte sur le site de l'Awex
- Malta Chamber of Commerce
- Doing Business in Malta
- Malta Enterprise - Doing Business in Malta
- Business First
The Chamber of Commerce and the country