Malta |
|
| ECONOMY |
| |
| Overview |
Major
resources are limestone, a favorable geographic location,
and a productive labor force. Malta produces only about 20%
of its food needs, has limited fresh water supplies, and has
no domestic energy sources. The economy is dependent on foreign
trade, manufacturing (especially electronics and textiles),
and tourism. Malta is privatizing state-controlled firms and
liberalizing markets in order to prepare for membership in
the European Union. The island remains divided politically,
however, over the question of joining the EU. Continued sluggishness
in the global economy is holding back exports, tourism, and
overall growth. |
| GDP |
purchasing
power parity - $6.818 billion (2002 est.) |
| GDP
- real growth rate |
1.2% (2002
est.) |
| GDP
- per capita |
purchasing
power parity - $17,200 (2002 est.) |
| GDP
- composition by sector |
agriculture:
2.8%
industry: 25.5%
services: 71.7% (1999) |
| Population
below poverty line |
NA% |
| Inflation
rate (consumer prices) |
2.4% (2002
est.) |
| Labor
force |
160,000 (2002
est.) |
| Labor
force - by occupation |
industry
24%, services 71%, agriculture 5% (1999 est.) |
| Unemployment
rate |
7% (2002
est.) |
| Industries |
tourism;
electronics, ship building and repair, construction; food
and beverages, textiles, footwear, clothing, tobacco |
| Industrial
production growth rate |
NA% |
|
|
