Malta’s economy up 6.3 percent in 2015

Valletta, March 9 (IANS) The Gross Domestic Product (GDP) in Malta registered a year-on-year increase of 6.3 percent in real terms in 2015, according to the official figures released by Maltese government on Tuesday.

The economic performance reflected strong increases in both investment and private consumption. In 2015, investment activity increased by 21.4 percent, or $296.10, while private consumption increased by 5.1 percent, or 203.3 million euros, over the previous year, Xinhua news agency reported.

Exports of goods and services also registered an increase of 2.4 percent.

The majority of sectors in the archipelago recorded positive growth.

The strong growth in the service sectors more than compensated for the marginal decline of 0.4 percent in the manufacturing sector.

In addition, government expenditure growth decelerated, increasing by 4.8 percent compared with a growth rate of 6.4 percent registered in 2012.

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