Government welcomes industrial sector’s resilience

Eurostat’s publication of the latest available figures on industrial production across the EU was welcomed by the Maltese government, which cited it as proof of the local sector’s resilience.

The latest figures, covering the month of May, show that industrial production rose by a relatively modest 2.9% over the previous month. This was actually one of the most modest month-on-month increases – the EU average was 11.4% – but it followed a steep drop in industrial production across the bloc, brought about by the Covid-19 pandemic.

In fact, when compared to May 2019, industrial production fell in every EU member state. But the decline registered in Malta – of 4.8% – is the second lowest registered across the bloc, following Finland (-3.8%). Industrial production fell by 20.5% in the EU, and 20.9% in the euro area, with the steepest decreases registered in Slovakia (-33.5%), Hungary (-27.6%) and Romania (-27.4%).

“The government worked tirelessly to ensure that our country remains at the top. In fact, our economic regeneration plan includes various measures specifically aimed at the sector,” it said.

“In addition to this, the plan includes the biggest infrastructural investment plan ever announced in the country. Thus the government will be restoring industry’s status as a leading contributor to our country’s economic development.”