Gozo and Comino accounted for 4.3% of the country’s GDP last year, according to recent National Statistics Office (NSO) data.
The NSO said the two islands’ financial contribution to Gross Domestic Product (GDP) – the value of all goods and services produced by a country – amounted to €992.9 million. Malta’s, meanwhile, stood at more than €2.2 billion.
Last year, Gozo and Comino’s GDP per capita stood at 59.8% compared to the national level, while Malta’s stood at 103%. The NSO noted that the per capita results do not reflect household income.
Meanwhile, the Gross Value Added (GVA) at basic prices in Malta was estimated at over €20 billion, while Gozo and Comino’s stood at just over €919 million, reflecting increases of 10.4% and 8.7%, respectively.
GVA measures the economic value that each individual sector contributes to a country’s economy.
All industries across the country saw increases in GVA compared to the preceding year.
Meanwhile, all industries in Malta registered increased employment last year, with nearly all industries in Gozo and Comino experiencing the same, except for “professional, scientific and technical activities; administrative and support service activities”.
Economic activity related to financial and insurance activities led the way for employment gains on the two islands, growing by 18.5%.
Relative to Malta, the two islands’ economy is characterised by a higher proportion of economic activity resulting from public administration and defence, compulsory social security, education, health and social work activities, the NSO said.