Gozo’s contribution to national GDP accounted to 4.3% or €534.1 m

by Gozo News · December 23, 2019

Gozo's contribution to national GDP accounted to 4.3% or €534.1 m The contribution of Gozo and Comino region to the national Gross Domestic Product (GDP) at market prices accounted to 4.3% or €534.1 million in 2018, the National Statistics Office said today.

It noted that in 2018, the GVA at basic prices in the regions of Malta, and Gozo and Comino was estimated at €10,422.2 and €470.6 million, respectively; reflecting a corresponding increase of 8.7 and 12.3% over 2017.

According to the NSO, in Gozo and Comino almost all industries registered increases in GVA in 2018 when compared to the previous year, with the exception of the industries of agriculture, forestry and fishing.

The industries comprising the public administration and defence; compulsory social security; education; human health and social work activities accounted for the highest share at 24.1% of the total GVA, in Gozo and Comino.

When compared to the previous year, these industries registered an increase of 8.4%, the NSO said.

Also in Gozo and Comino, the industries of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities accounted for the second highest share of the GVA at 23.6% and have registered a growth of 12.1% over 2017.

GDP at market prices in 2018 in the regions of Malta, and Gozo and Comino was estimated at €11,827.8 and €534.1 million, respectively, corresponding to 95.5 and 4.3% of national GDP at market prices.

GDP per capita at market prices increased year-on-year in both regions, the NSO said.

The per capita GDP at market prices for the Gozo and Comino region as a percentage of the national was 63.8%.

The NSO explained that the per capita regional GDP does not reflect the income available to the private households of each respective region, but it strictly relates to the economic activity prevailing in each of the regions.

In comparison to 2017, total population in Malta region increased by 3.9% whereas that in the Gozo and Comino region increased by 2.0%.

In 2018, all industries in the Gozo and Comino region registered increases in employment during 2018.

The largest increases were registered in the economic activities relating to professional, scientific and technical activities; administrative and support service activities; and financial and insurance activities, which growth rates were of 19.1 and 16.3% respectively, the NSO said.