Malta's Real Estate Industry Records Largest Increase In Gross Value Added

9th August 2017

The largest increase in Malta’s Gross Value Added (GVA) was recorded in the real estate industry at 15.1 per cent, assuming a contribution of 5.2 per cent to total GVA, according to a new report released by the National Statistics Office (NSO).

The largest increase in Malta’s Gross Value Added (GVA) was recorded in the real estate industry at 15.1 per cent, assuming a contribution of 5.2 per cent to total GVA, according to a new study released by the National Statistics Office (NSO).

GVA is the measure of the value of goods and services produced in an area, industry or sector of an economy, in economics. In national accounts, GVA is the output, minus intermediate consumption.

The NSO’s report, titled Regional Statistics Malta - 2017 Edition, showed that in 2015, the GVA at basic prices in the regions of Malta and Gozo and Comino was valued at €7 767.3 million and €348.2 million, respectively, reflecting a corresponding increase of 10.0 per cent and 9.8 per cent over 2014.

Almost all industries in Malta registered increases in GVA during 2015, with the exception of the manufacturing industry. After the real estate industry, construction registered the second largest increase in GVA at 14.3 per cent and accounting for a contribution of 4.1 per cent to the total. The industries of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities comprised the highest share to GVA (21.6 per cent), registering a growth in GVA of 8.8 per cent over 2014.

The industries comprising public administration and defence; compulsory social security; education; human health and social work activities contributed to the second largest share of the GVA (17.2 per cent) in 2015. These industries registered a growth in GVA of 7.3 per cent when compared to 2014.

During the period 2010 to 2015, the industries of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities accounted for the highest share of Malta’s GVA contributing to 20.9 per cent on average. Similarly, the industries comprising public administration and defence; compulsory social security; education; human health and social work activities contributed to the second largest share, accounting for 16.5 per cent in 2015.

Meanwhile, agriculture, forestry and fishing contributed the least to Malta’s GVA during the period under review, contributing to an average of 1.2 per cent. The contribution of the private sector in Malta accounted for 84.7 per cent.


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