Services industry booms

Activity in the service industry in Malta grew two and a half times the European average.

According to Eurostat, in February activity in the services industry in Malta increased by 12.5% ​​compared to the same month last year. In contrast, across the European Union the increase was 4.8%. This means that activity in the service industry in Malta grew by two and a half times the European average.

Malta had the fourth largest growth among EU countries, after Lithuania (12.8%), Denmark (14.6%), and Greece (15.1%). In contrast, there was a decrease in Finland (-1.6%), in Slovakia (-3.4%), in Romania (-2.4%), in Austria (-1.6%), in Latvia (-2.2%), and in Czechia (-3.1%). In France there was a growth of only 3.1%, while in Germany there was an increase of 4.2%.

Compared to 2021, the service industry in Malta has 23% greater activity. In contrast, across Europe, the activity is only 4% greater. This means that, over a period of three years, the services industry in Malta has grown by almost six times what the same industry has grown across the Union. In Germany, for example, there was almost no growth. The same happened in Czechia, Croatia, Luxembourg, Hungary, Slovakia, and Finland, with some countries even experiencing a decrease.

Photo: Alexander Isreb

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