GDP – A broad measurement of the country’s overall economic activity.
When compared to the same period of 2018, Malta’s Gross Domestic Product (GDP), increased by a significant 4.8% in the first three months of this year. According to DBRS’s report, such increase surpassed the growth of all the countries within the Euro area.
Amongst the top performers, ranking second and third were Estonia and Lithuania, with the highest GDP increases following Malta. Malta’s GDP increased by 4.8%, Estonia with 4.6% and Lithuania with 3.8%.
As for the whole Euro zone, the GDP increased by 1.2%, when compared with the same period of the previous year. On a quarter to quarter basis, the Euro zone GDP increased by 0.4% in the first quarter of 2019. When it came to the countries with the largest economies in the Euro zone, such as Germany, France and Italy, their GDP didn’t experience such a ‘large’ increase.
Germany’s GDP increased by 0.7%, France by 1.2%, while Italy’s GDP under performed by a -0.1%.
Malta’s Unemployment Rate
According to the same report, Malta’s unemployment rate ranks as the 3rd lowest in Europe. In April 2019, the country’s unemployment rate stood as low as 3.5%. The top performers with regards to unemployment, were Germany with a low rate of 3.2% and the Netherlands at 3.3%.
As for the Euro zone, in the same period, the unemployment rate was recorded at 7.6%. This is a record low since August 2008.