scription:

two equal vertical bands of white (hoist side) and red; in the upper
hoist-side corner is a representation of the George Cross, edged in
red

Economy
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 few domestic energy
sources. The economy is dependent on foreign trade, manufacturing
(especially electronics and pharmaceuticals), and tourism. Economic
recovery of the European economy has lifted exports, tourism, and
overall growth. Malta adopted the euro on 1 January 2008.

GDP (purchasing power parity):

$9.4 billion (2007 est.)

GDP (official exchange rate):

$7.419 billion (2007 est.)

GDP - real growth rate:

3.8% (2007 est.)

GDP - per capita (PPP):

$23,400 (2007 est.)

GDP - composition by sector:

agriculture: 2.7%
industry: 22.3%
services: 74.9% (2003 est.)

Labor force:

166,000 (2007 est.)

Labor force - by occupation:

agriculture: 3%
industry: 22%
services: 75% (2005 est.)

Unemployment rate:

6.4% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Distribution of family income - Gini index:

28 (2005)

Investment (gross fixed):

18.9% of GDP (2007 est.)

Budget:

revenues: $3.485 billion
expenditures: $3.554 billion (2007 est.)

Fiscal year:

calendar year

Inflation rate (consumer prices):

1.3% (2007 est.)

Central bank discount rate:

NA (31 December 2007)

Commercial bank prime lending rate:

6.24% (31 December 2007)

Stock of money:

$4.603 billion
note: see entry for the European Union for money supply in the Euro
Area; the European Central Bank (ECB) controls monetary policy for
the 15 members of the Economic and Monetary Union (EMU); individual
members of the EMU do not control the quantity of money and quasi
money circulating within their own borders (31 December 2007)

Stock of quasi money:

$7.645 billion (31 December 2007)

Stock of domestic credit:

$10.99 billion (31 December 2007)

Agriculture - products:

potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut
flowers, green peppers; pork, milk, poultry, eggs

Industries:

tourism, electronics, ship building and repair, construction, food
and