Malta’s economy registers third highest growth in EU in Q1

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Malta’s economy registered the third highest growth rate in the EU in the first quarter of 2017, Malta’s National Statistics Office (NSO) says.

Malta’s Gross Domestic Product (GDP) for the first quarter of 2017 amounted to 2.49 billion euros, an increase of 144.5 million or 6.2 percent when compared to the corresponding period last year.

Following adjustments for inflation, the GDP growth is 4.2 percent in the first quarter of the year when compared with the first three months of 2016.

NSO reports the increase was mainly generated by public administration and defence; education; human health and social work activities.

Arts, entertainment and recreation, repair of household goods and other services as well as professional, scientific, technical and administrative and support service activities also contributed to this increase.

In the EU, only Romania with 5.6 percent, and Slovenia with 5 percent, registered a higher economic growth. (1 euro = 1.12 U.S. dollars)

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