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Turnover & employment of Maltese-owned foreign affiliates both up

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Turnover & employment of Maltese-owned foreign affiliates both upIn 2013, turnover and employment of Maltese-owned foreign affiliates grew by 48.2 and 21.9 per cent respectively, the National Statistics Office said today.

Maltese-owned foreign affiliates generated €452.6 million in 2013, up by 48.2 per cent over the previous year. These enterprises employed just over 6,700 persons abroad, an increase of 21.9 per cent over 2012.

Accommodation and food service activities (35.5 per cent) was once again the dominant sector for 2013. This sector employed 4,574 employees (13.0 per cent), accounting for 67.9 per cent of total employment in foreign affiliates.

Turnover of Maltese-owned foreign affiliates was mainly generated in Europe, with €340.7 million, or 75.3 per cent of the total. In 2013, turnover generated in Europe grew by 41.2 per cent when compared to 2012.

Additionally, employment of Maltese-owned foreign affiliates was predominant in Europe with 4,398 employees, or 65.2 per cent of the total. When comparing 2013 and 2012, such employment in Europe increased by 14.6 per cent. Moreover, employment in America increased to 947 persons (88.3 per cent).

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