force. Malta produces only about 20% of its food needs, has
limited freshwater supplies, and has no domestic energy sources.
Consequently, the economy is highly dependent on foreign trade and services.
Manufacturing and tourism are the largest contributors to the economy.
Manufacturing accounts for about 27% of GDP, with the electronics and
textile industries major contributors. In 1990 inflation was held to a low
3.0%. Per capita GDP at $7,000 places Malta in the middle-income range of
the world's nations.
GDP:
exchange rate conversion - $2.5 billion, per capita $7,000 (1991 est.); real
growth rate 5.5% (1990)
Inflation rate (consumer prices):
3.0% (1990)
Unemployment rate:
3.8% (1990)
Budget:
revenues $1.3 billion; expenditures $1.3 billion, including capital
expenditures of $380 million (1992 plan)
Exports:
$l.1 billion (f.o.b., 1990)
commodities:
clothing, textiles, footwear, ships
partners:
Italy 30%, Germany 22%, UK 11%
Imports:
$2.0 billion (f.o.b., 1990)
commodities:
food, petroleum, machinery and semimanufactured goods
partners:
Italy 30%, UK 16%, Germany 13%, US 4%
External debt:
$90 million, medium and long term (December 1987)
Industrial production:
growth rate 19.0% (1990); accounts for 27% of GDP
Electricity:
328,000 kW capacity; 1,110 million kWh produced, 2,990 kWh per capita (1991)
Industries:
tourism, electronics, ship repair yard, construction, food manufacturing,
textiles, footwear, clothing, beverages, tobacco
Agriculture:
accounts for 3% of GDP; overall, 20% self-sufficient; main products -
potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers,
green peppers, hogs, poultry, eggs; generally adequate supplies of
vegetables, poultry, milk, pork products; seasonal or periodic shortages in
grain, animal fodder, fruits, other basic foodstuffs
Economic aid:
US commitments, including Ex-Im (FY70-81), $172 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $336 million; OPEC
bilateral aid (1979-89), $76 million; Communist countries (1970-88), $48
million
Currency:
Maltese lira (plural - liri); 1 Maltese lira (LM) = 100 cents
Exchange rates:
Maltese liri (LM) per US$1 - 0.3257 (March 1992), 0.3004 (1991), 0.3172
(1990), 0.3483 (1989), 0.3306 (1988), 0.3451 (1987)
Fiscal year:
1 April