Malta is the smallest country in the EU and is located in the Mediterranean. The population of Malta is 418,000, 6,800 of whom live in the capital, Valletta. The population is expected to fall slightly to 417,000 by 2030. Over the same period the proportion of over 65s is expected to increase from 21% to 39%. Maltese is the official language, although English is widely spoken. Catholic is the dominant religion. The Euro is the official currency. The standard rate of VAT is 18%.

 Malta                               Capital: Valletta



0.418 million à 0.417 million (2030)

Proportion of people over 65 is 21% à 39% (2030)




Mostly Catholic

GDP / head

€ 15,300   (EU average: € 25,100)





GDP growth (volume)



1.0% in 2012 (f)

2.0% in 2013 (f)

Unemployment rate

(Feb 2012)

6.8%   (EU average: 10.2%)

Inflation rate

2.4%   (EU average: 3.1%)


Figures relate to 2011, except where indicated.                                      Source: Eurostat, Searce (2012)


Malta has a GDP per capita of €14,800, compared to the EU average of €24,400 in 2010. According to Eurostat, the Maltese economy grew by 2.1% in 2011, and is expected to grow by 1% in 2012 and by 2% in 2013 (compared to the Eurozone average growth of 1.6%, 0.2% and 1.4% respectively). The inflation rate was 1.3% in 2011, compared to 3% in the EU. The unemployment rate was 6.5%, compared to 9.8% in the EU as a whole in 2011.

On the whole, Maltese business people have a conservative approach to business. Punctuality is expected and dress codes are conservatively smart in the workplace. Business correspondence is conducted in English.