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Maltese GDP Up By 2.2% In Second Quarter

by Robert Lee, Tax-News.com, London

04 October 2002

Malta's National Statistics Office (NSO) revealed on Wednesday that the country's Gross Domestic Product for the second quarter of 2002 increased by Lm12.4 million (compared to the same period last year) to Lm415.6 million.

The NSO figures also revealed that during the period in question, exports of goods and services declined by 5.7% compared to the second quarter of 2001, but that imports rose by 3.5% to Lm333.9 million.

Government spending continued to increase, according to the Statistics Office, and moderate increases in consumer expenditure were registered on food, beverages and tobacco, rent, fuel and power, furniture and household equipment, and medical care and health expenses, with the latter two sectors recording the largest gains.

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