Provisional estimates published by the National Statistics Office show that Malta’s Gross Domestic Product (GDP) went up by 5.9% when compared to the corresponding period of last year. The estimates indicate that the second quarter of this 2018 amounted to just over €3,001.1 million – an increase of €238 million.
Gross Value Added (GVA) – the measure of the value of goods and services produced in an area, industry or sector of an economy – increased by €187.8 million.
This approach is derived by adding consumption of households, government and non-profit institutions serving households, investment, government spending and net exports. The main source of growth for the second quarter of this year was mainly generated by domestic demand. The total consumption expenditure increased by 8.2% in real terms.
This shows how GDP at market prices is distributed into compensation of employees, operating surplus of enterprises, and taxes on production and imports net of subsidies. GDP at current places went up by €238 million.