Main Economic Indicators
- Registered unemployed (as at July 2012): 6,664 persons
- Full-time gainfully occupied persons (as at April 2012): 150,717
- Part-time gainfully occupied persons (as at April 2012): 53,791
- Labour supply (as at 2nd quarter 2011): 354,645
- Persons Employed in Financial Intermediation as at November, 2011: 6,542
- Average gross annual salary for employees in Financial Intermediation as at November, 2011: €46,810
- GDP at current prices (annual 2011) (€ millions): 6,499.2
- GDP at constant prices (annual 2011) (€ millions): 4,873.7
- GDP growth rate at constant prices Annual 2011: 1.9%
- GDP growth rate at constant prices quarter 2 of 2012: 0.9%
- Inflation rate 2011 (12-month moving average): 2.5%
- Foreign Direct Investment in Malta (stock position as at end December 2011) (€ billions): 12.5
- Merchandise exports (annual 2011) (€ millions): 3,815.2
- Goods and Services exports (as at 1st quarter 2012) (€ millions): 1,533.4
- Merchandise imports (annual 2011) (€ millions): 5,325.2
- Goods and Services imports (as at 1st quarter 2012) (€ millions): 1,431.2
- Internet users (2010): 245,480 (persons aged between 16-74)
Malta’s banking system is well regulated by the Malta Financial Services Authority. On 1 May 2004 the Central Bank of Malta joined the European System of Central Banks (ESCB) and on 1 January 2008 it became part of the Eurosystem. The main objective of the Eurosystem and the Central Bank of Malta is to maintain price stability. In order to meet this objective, the Central Bank of Malta participates in the preparation and decision-making process of the Eurosystem’s monetary policy.
Offices are usually open between 08:00 – 12:30 and 13:30 – 17:00 Monday to Friday. Most offices are closed on Saturdays and Sundays. Shops are open between 09:00 – 13:00 and 16:00 – 19:00 from Monday to Saturday although many more shops are remaining open through the lunch hours. Shops are generally not open on Sundays and public holidays though certain businesses are open in the main tourist centres. There are open-air markets one day a week in most towns and villages as well as a daily street market in Valletta.
Similar etiquette to that of the UK prevails. Business cards should always be presented and appointments kept with punctuality. Business people should be formally addressed, especially those in senior positions, and first names should be used only after a good relationship has been established.
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