Companies that do not fall within these categories, i.e. either more than 249 employees or with Net turnover greater than €50 million, are considered as Large.

13. From reference year 2021, the coverage of business activities has been extended, following the implementation of the European Business Statistics (EBS) regulation 2019/2152. Coverage includes Mining and quarrying (B), Manufacturing (C), Electricity, gas, steam and air conditioning supply (D), Water supply, sewerage, waste management and remediation activities (E), Construction (F), Wholesale and retail trade, repair of motor vehicles and motorcycles (G), Transportation and storage (H), Accommodation and food service activities (I), Information and communication(J), Real estate activities (L), Professional, scientific and technical activities (M), Administrative and support service activities (N), Education (P), Human health and social work activities (Q), Arts, entertainment and recreation (R), Repair of computers and personal and household goods (S95) and Other personal service activities (S96). The financial business economy (NACE 64-66) is excluded from this news release.

14. The definitions of statistical concepts surrounding FATS are as follows:

● Foreign affiliate in the framework of  FATS is an enterprise resident in one country which is under the control of an institutional unit resident in another country;

● Domestic affiliate refers to an enterprise resident in the compiling country over which a UCI resident in the same compiling country has control;

● Ultimate Controlling Institutional unit of a foreign affiliate (UCI) refers to the institutional unit, proceeding up a foreign affiliate’s chain of control, which is not controlled by another institutional unit;

● Control is the ability to determine the general policy of the affiliate by choosing appropriate directors, if necessary. In this context, enterprise A is deemed to be controlled by an institutional unit B when B controls, whether directly or indirectly, more than half of the shareholders’ voting power or more than half of the shares;

● Indirect control means that an institutional unit may have control through another affiliate which has control over enterprise A.

15. Definitions of the key indicators for FATS (based on the Commission Implementing Regulation (EU) 2020/1197):

● Net turnover includes total sales and other operating income and is expressed net of VAT;

● Value of output measures the amount actually produced, based on sales, including changes in stocks and neutralising the impact of goods resold in the same condition as purchased;

● Value added is a composite indicator of net operating income, adjusted for depreciation, amortisation and employee benefits, all components being recognised as such by the statistical unit during the reference period;

● Gross operating surplus is the surplus generated by operating activities after the labour factor input has been recompensed. It can be calculated from the Gross value added less the Employee benefits expenses. Simply put, Gross operating surplus is a measure of profitability before accounting for interest, income taxes, depreciation, amortisation, revaluations, provisions and other non-operating expenses;

 ● Employee benefits expense is defined as the total remuneration, in cash or in kind, payable by an employer to an employee (regular and temporary employees as well as home workers) in return for work done by the latter during the reference period. Employee benefits expenses also include taxes and employees’ social security contributions retained by the unit as well as the employer’s compulsory and voluntary social contributions;

● Gross investment in tangible non-current assets is defined as investment during the reference period in all tangible goods. Included are new and existing tangible capital goods, whether bought from third parties or produced for own use (i.e. capitalised production of tangible capital goods), having a useful life of more than one year including non-produced tangible goods such as land. Investments in intangible and financial assets are excluded;

● Persons employed are people engaged in productive activities in an economy. The concept includes both employees and self-employed (i.e. inclusive of working proprietors, partners and unpaid family workers). The latter category may include persons who do not receive compensation in the form of wages, salaries, fees, gratuities, piecework pay or remuneration in kind. The name used, for this variable by Eurostat in the Eurobase is Number of employees and self-employed persons;

● Number of employees is defined as those persons who work for an employer through a contract of employment and receive compensation in the form of wages, salaries, fees, gratuities, piecework pay or remuneration in kind.

16. In some cases, totals may not match because of rounding.

17. More information relating to this news release may be accessed at:

Statistical Concepts 

18. Values available on Eurostat’s database (Eurobase) differ from those in this news release due to the differences in size classification and the inclusion of the financial sector.

19. The data for 2022 in this news release should be considered as provisional and subject to revision. The data for 2021 is final.

20. FATS data is unadjusted and reflects the official data reported by active resident enterprises operating in the non-financial business economy of Malta.

21. A detailed news release calendar is available online.

22. References to this news release are to be cited appropriately. For guidance on access and re-use of data please visit our dedicated webpage.

23. For further assistance send your request through our online request form.