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Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between the EU and Africa makes it a target for illegal immigration, which has strained Malta's political and economic resources. Malta adopted the euro on 1 January 2008. Malta's financial services industry has grown in recent years and in 2008-09 it escaped significant damage from the international financial crisis, largely because the sector is centered on the indigenous real estate market and is not highly leveraged. Locally, the restricted damage from the financial crisis has been attributed to the stability of the Maltese banking system and to its prudent risk-management practices. The global economic downturn and high electricity and water prices have hurt Malta's real economy, which is dependent on foreign trade, manufacturing - especially electronics and pharmaceuticals - and tourism. Following a few years of modest growth, Malta's economy contracted by 2.2% in 2009, and the government of Malta took steps to provide direct grants to struggling local businesses.
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$9.833 billion (2009 est.)
country comparison to the world: 149
$10.01 billion (2008 est.)
$9.811 billion (2007 est.)
note:
data are in 2009 US dollars
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$7.955 billion (2009 est.)
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-1.8% (2009 est.)
country comparison to the world: 146
2% (2008 est.)
3.8% (2007 est.)
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$24,300 (2009 est.)
country comparison to the world: 54
$24,800 (2008 est.)
$24,400 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 1.7%
industry:
17.4%
services:
80.9% (2007 est.)
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175,000 (2008 est.)
country comparison to the world: 175
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agriculture: 1.6%
industry:
22.8%
services:
75.6% (2009 est.)
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7% (2009 est.)
country comparison to the world: 65
6.3% (2008)
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NA%
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lowest 10%: NA%
highest 10%:
NA%
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26 (2007)
country comparison to the world: 128
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13.4% of GDP (2009 est.)
country comparison to the world: 142
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revenues: $3.31 billion
expenditures:
$3.74 billion (2009 est.)
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69.4% of GDP (2009 est.)
country comparison to the world: 20
63.6% of GDP (2008 est.)
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1.8% (2009)
country comparison to the world: 65
4.8% (2008 est.)
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1% (31 December 2009)
country comparison to the world: 96
5% (31 December 2008)
note:
this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
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5.89% (31 December 2008)
country comparison to the world: 136
6.24% (31 December 2007)
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$4.639 billion (31 January 2008)
country comparison to the world: 70
$4.603 billion (31 December 2007)
note:
this figure represents the US dollar value of Maltese liri in circulation prior to Malta joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the EMU; individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders
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$8.771 billion (31 January 2008 est.)
country comparison to the world: 68
$7.645 billion (31 December 2007)
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$13.41 billion (31 December 2009)
country comparison to the world: 74
$12.31 billion (31 December 2008 est.)
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$NA (31 December 2009)
country comparison to the world: 86
$3.572 billion (31 December 2008)
$5.633 billion (31 December 2007)
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potatoes, cauliflower, grapes, wheat, barley, tomatoes, citrus, cut flowers, green peppers; pork, milk, poultry, eggs
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tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services
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NA%
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2.146 billion kWh (2007 est.)
country comparison to the world: 131
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1.832 billion kWh (2007 est.)
country comparison to the world: 136
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0 kWh (2009 est.)
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0 kWh (2009 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 163
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19,000 bbl/day (2009 est.)
country comparison to the world: 128
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0 bbl/day (2009 est.)
country comparison to the world: 194
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17,910 bbl/day (2007 est.)
country comparison to the world: 116
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0 bbl (1 January 2009 est.)
country comparison to the world: 137
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0 cu m (2009 est.)
country comparison to the world: 146
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0 cu m (2009 est.)
country comparison to the world: 139
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0 cu m (2009 est.)
country comparison to the world: 154
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0 cu m (2009 est.)
country comparison to the world: 95
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0 cu m (1 January 2009 est.)
country comparison to the world: 113
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-$570 million (2009 est.)
country comparison to the world: 117
-$52.5 million (2008)
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$2.678 billion (2009 est.)
country comparison to the world: 124
$3.102 billion (2008 est.)
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electrical machinery, mechanical appliances, fish and crustaceans, pharmaceutical products, printed material
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Singapore 12.45%, Germany 12.11%, France 12.1%, US 10.07%, Hong Kong 6.93%, UK 6.07%, Libya 5.38% (2009)
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$3.973 billion (2009 est.)
country comparison to the world: 124
$4.827 billion (2008 est.)
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mineral fuels and oils, electrical machinery, non-electrical machinery, aircraft and other transport equipment, plastic and other semi-manufactured goods; food, drink, tobacco
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Italy 24.29%, UK 11.8%, Germany 9.28%, France 7.99%, China 4.56%, Singapore 4.11%, Switzerland 4.05% (2009)
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$538.7 million (31 December 2009 est.)
country comparison to the world: 141
$373.4 million (31 December 2008 est.)
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$3.75 billion (2008)
country comparison to the world: 111
$188.8 million (2005)
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$8.24 billion (31 December 2009)
country comparison to the world: 80
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$NA
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euros (EUR) per US dollar - 0.7338 (2009), 0.6827 (2008), Maltese liri per US dollar - 0.3106 (2007), 0.37 (2006), 0.34578 (2005), 0.37723 (2003)
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