Corporate

Services, industry propel strong economic growth as construction stutters

Despite the persistent economic challenges emanating particularly from the prolonged war in Ukraine and the subsequent energy crisis, Malta’s growth levels remained strong in 2022, with real GDP estimated to have reached 69%, which is higher than projected in autumn. The economy showed strong growth in both private and public consumption In addition to strong performance by the services sectors in general, the export of tourism services in 2022 rebounded quickly, both in terms of total number of visitors and tourism expenditures, contributing to overall positive economic results

Gross Domestic Product (GDP) for 2022 amounted to €16,870.3 million, registering an