The Maltese archipelago, consisting of the islands of Malta, Gozo and Comino, lies at the cultural, financial and geographical crossroads of the Mediterranean Sea.
Malta’s status as an EU Member State since May 2004, and more so with the adoption of the Euro on 1 January 2008, enhanced the country’s attractiveness as a centre for international business in the Euro-Mediterranean region. Internationally, Malta is recognised as a safe and secure place to do business, with high economic, legal and political stability, and low risk. It boasts a highly-qualified and flexible workforce and a proactive business environment. Industry, exports, tourism, and financial services are the pillars of the Maltese economy which is an innovation-driven economy. The country’s communication facilities are excellent, with a highly sophisticated digital telecommunications infrastructure that ensures a global business environment at all times. Maltese and English are the official languages of Malta. In addition, Malta is easily accessible from major European and North African destinations and has direct air links to most major European and North African cities, Middle East and Arab Gulf States. Malta also forms part of the Schengen travel area. All these key factors have made Malta the ideal location for foreign direct investment and international trade.
Indeed, Malta has always been a prized possession of all the dominant naval powers. When one considers the strategic geographical position of the Maltese Islands, at the confluence of the major sea lanes linking Europe, North Africa, and the Middle East, it comes as no surprise that Malta has, throughout the ages been at the centre of maritime activity in the Mediterranean. Its geographical position places it a mere 6 nautical miles off the main Mediterranean sea-route between Gibraltar and the Suez Canal. The development of Malta Freeport Terminals is reviving Malta’s glorious maritime history by stimulating transhipment trade within its shores. Malta Freeport is one of the island’s most important companies and has become an indispensable asset for Malta’s economy as it connects the nation and its industries to Europe, and the proverbial seven seas. As a barometre of its national significance, Malta Freeport contributes more than 2% of the GDP. With the ongoing investment being undertaken at Malta Freeport Terminals, the future of maritime Malta looks set to expand.
Key Facts
Location: 93 km south of Sicily and 288 km from the North African coast
Structure: Archipelago comprising Malta (main Island), as well as Gozo and Comino
Malta – Length: 27.3 km / Width: 14.5 km
Gozo – Length: 14.5 km / Width: 7.2 km
Malta – Shoreline: 136.8 km
Gozo – Shoreline: 45 km
Total land area: 316 km²
Climate: Mediterranean – mild winters and hot, dry summer
Time zone: GMT +1 (Daylight saving time: +1 hour beginning last Sunday in March and ends last Sunday in October)
Capital City: Valletta
Language: Maltese and English (both official)
Principal Religion: Roman Catholic
EU Member: Since May 2004
Local currency: Euro which was adopted on 1st January 2008
Head of State: President Dr George Vella
Head of Government: Prime Minister Dr Robert Abela
Public Holidays in Malta
Public Holidays in Malta are regulated in terms of the National Holidays and other Public Holidays Act (Chapter 252) of the Laws of Malta.
January 1st – New Year’s Day
February 10th – Feast of St Paul’s Shipwreck
March 19th – feast of St Joseph
March 31st – Freedom Day
April 10th – Good Friday
May 1st – Worker’s Day
June 7th – Sette Giugno
June 29th – Feast of St.Peter and St.Paul
August 15th – Feast of the Assumption
September 8th – Feast of Our Lady of Victories
September 21st – Independence day
December 8th – Feast of Immaculate Conception
December 13th – Republic Day
December 25th – Christmas Day
People and Society
Population: 493,559 (as at end 2019)
Employment Rate: 74.1% (December 2019)
Unemployment Rate: 3.2% (December 2019)
Tourism: Over 2.5 million tourists visited Malta in 2018
Economic Data
GDP: €13,208.5 million, registering an
increase of €842.2 million or 6.8% when
compared to 2018
GDP Growth Rate: 1.7% (December 2019)
GDP Annual Growth Rate: 4.4% (December 2019)
Balance of Tr ade: – €134,180,000
Current Account: €387,309,000
Foreign Direct Investment: €1,013.7 million
Annual Inflation: 1.3% (as at December 2019)