20 - 26 July 2000

GDP up by 8.4 per cent

Malta's Gross Domestic Product (GDP) went up by Lm28.3m or 8.4 per cent in the first three months of this year compared to last year, the Central Office of Statistics said yesterday.

The total GDP for the first quarter of 2000 amounted to Lm364.7m. In real terms, the GDP is estimated to have increased by 5.6 per cent over the same period last year.

On a sectoral level, the COS said that increases were recorded in agriculture and fisheries, manufacturing, transport and communications, wholesale and retail trade, and the banking and insurance sector.

The most significant increase was in the transport and communications sector, with a contribution of Lm19.6m or 18.6 per cent more than last year.

The manufacturing sector improved its performance considerably with a GDP increase of 8.2 per cent.

Reduced economic activity was recorded in the construction and quarrying industry and the government enterprises sector.

Activity was especially weak in the quarrying and construction industry, with its contribution to the GDP down by Lm0.9m or 9.9 per cent. Government enterprises contributed Lm3.8m or 16.5 per cent less to the GDP than last year.