OVERVIEW
Malta is a small island country located in the heart of the Mediterranean, between Sicily and the North African coast, known for its rich cultural heritage, shaped by centuries of foreign rule, sunny climate and stunning coastlines.
Its capital, Valletta, is a UNESCO World Heritage Site in which is reflected the country’s deep historical roots and vibrant and modern local life, serving also as its political and cultural center.
In 2023, Malta ranked
- 116th in terms of GDP, currently valued as $22.3B, out of 195 economies in the world;
- 111st in terms of total exports out of 226 countries;
- 31st in terms of GDP per capita, valued with current US$, out of 196 economies in the world.
ECONOMIC COMPLEXITY RANKING
EXPORT
In 2023 it was estimated that the principal products that were exported from Malta were
- Refined Petroleum - $3.08B;
- Integrated Circuits - $1.5B;
- Packaged Medicaments - $733M;
- Documents of title (bonds etc) and unused stamps - $293M;
- Passenger and Cargo Ships - $220M.
On the other hand, the commonest destinations for Malta exports were
- Nigeria - $2.26B;
- Germany - $849M;
- China - $494M;
- Singapore - $372M;
- Hong Kong - $308M.
IMPORT
In 2023 the most imported products from other countries to Malta were
- Refined Petroleum - $1.19B;
- Passenger and Cargo Ships - $1.09B;
- Recreational Boats - $759M;
- Integrated Circuits - $692M;
- Planes, Helicopters, and/or Spacecraft - $656M.
These goods were mainly produced by
- Italy - $1.95B;
- China - $1.04B;
- Germany - $830M;
- France - $751M;
- Turkey - $709M.
YEARLY TRADE
During the last five reported years, the exports of Malta have increased by $3B from $5.1B in 2018 to $8.11B in 2023.
The most recent exports are led by
- Refined Petroleum - $3.08B;
- Integrated Circuits - $1.37B;
- Packaged Medicaments - $708M;
- Documents of title (bonds etc) and unused stamps - $293M;
- Passenger and Cargo Ships - $220M.
They were exported primarily to
- Nigeria - $2.26B;
- Germany - $870M;
- China - $388M;
- Singapore - $370M;
- Italy - $302M.
CONCLUSIONS
In 2023, Malta strengthened its image as a vibrant and forward-looking Mediterranean hub, with sectors like digital services and finance that remained key pillars of the economy.
Also, the country’s strategic position and multilingual context attracted many tourists, from both local and international scenarios, fascinated by its vital vibe and the rich blending of tradition and modernity.
Source: https://oec.world/en
