The first section of this chapter provides a summary of recent developments in the Maltese economy, highlighting major changes in regional economic statistics by industry NACE A*10/11. Macroeconomic activity and economic growth within each respective region are measured by Gross Value Added (GVA) at basic prices and Gross Domestic Product (GDP) at market prices, based on the production approach. The prevailing economic activity within the regions is explained by the respective GDP per capita. The second part of this chapter focuses on the development in the construction activity being measured by the number of approved buildings permits and new dwellings.
Salient Points
Gross Value Added at basic price: 2024
… for the regions of Malta and Gozo and Comino GVA increased by 10.4 and 8.7 per cent respectively over 2023.
… all industries in Malta region registered increases in GVA, with the largest increase (18.0 per cent) being recorded in the industries of Real estate activities (L).
… all industries in the Gozo and Comino region registered increases in GVA when compared to the previous year, with the industries of the Public administration and defence; Compulsory social security; Education; Human health and social work activities (O, P and Q) registering the largest increase of 14.0 per cent.
GDP at market prices: 2024
…GDP at market prices in the regions of Malta, and Gozo and Comino was estimated at €22,104.4 million and €992.9 million respectively, corresponding to 95.6 and 4.3 per cent of national GDP at market prices.
… GDP per capita in Gozo and Comino region stood at 59.8 per cent when compared to corresponding estimates at national level.
Active businesses at local unit level: 2023
… total active business population at the local unit level in MALTA amounted to 63,583, an increase of 10.5 per cent, or 6,057 active units, over 2022.
… most of the active businesses operated in the Northern Harbour district (34.1 per cent), whereas the Gozo and Comino district accounted for the least share at 7.6 per cent of the total active businesses at local unit level.
Residential Building Permits: 2025
… 2,213 building permits for a total of 12,325 new dwellings were approved.
… the highest numbers of both building permits and approved new dwellings were recorded in the Northern Harbour district at 577 permits and 3,509 new dwellings respectively.
… the majority of newly approved dwellings in MALTA consisted of apartments (72.1 per cent), followed by penthouses with 1,856 units.
