Malta's gross domestic product expanded 0.5 percent year-on-year in the first quarter of 2020, slowing from an upwardly revised 4.8 percent growth in the previous three-month period. That was the weakest pace of expansion since the third quarter of 2011 as the coronavirus pandemic hit activity and demand. There were declines in household consumption and fixed investment, while government spending jumped. In addition, exports and imports both fell.
GDP Annual Growth Rate in Malta averaged 3.86 percent from 2001 until 2020, reaching an all time high of 11.40 percent in the first quarter of 2015 and a record low of -3.70 percent in the second quarter of 2009. This page provides - Malta GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malta GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
GDP Annual Growth Rate in Malta is expected to be -4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Malta to stand at 0.90 in 12 months time. In the long-term, the Malta GDP Annual Growth Rate is projected to trend around 2.20 percent in 2021 and 3.50 percent in 2022, according to our econometric models.