|
Location: South from Sicily 93km, North from North Africa 290km.
Area: 315 Sq km (Malta 246, Gozo 67, and Comino 3)
Population: 380,000 (approx.)
Capital: Valletta
Languages spoken: Maltese and English; (Italian widely spoken; French and German also possible)
Status: Independent non-aligned Republic. Parliamentary democracy.
Airport: Luqa (6km from Valletta)
Seaport: Grand Harbour – Valletta
Time: C.E.T. (one hour ahead of GMT). Summer time is in operation from the last Sunday in March to the last Sunday in September (two hours ahead of GMT).
Economy:
The Maltese economy, which practically until the Island’s independence in 1964 was tied to the British Military base, has undergone radical restructuring in the past decades. The Island’s political system is very stable and as a result, so is its economy. Malta has become a member of the European Union on 1st May, 2004.
Tourism and light industry, varying from textiles to electronics, are today the mainstays of local economy. The Malta Drydocks, which includes ship building, provides services which are amongst the best in the Mediterranean basin. Agriculture and fisheries are two traditional sectors which continue to play their own important economic role and are constantly being redeveloped. Trade also plays an important role in the Maltese economy and the Government has adopted a policy whereby it is trying to set up Malta as a hub for international commerce. This is being mainly developed through the Malta Financial Services Authority, through the Air Malta network, the Island’s national airline, among others.
Malta therefore provides a useful and convenient base for re-exports and an International Trade Fair is organised annually every July.
Oil-exploration is in its initial stages. The Island, however has already developed a base for off-shore oilfield services.
Handicrafts produced in Malta are pottery, glass, ceramics, dolls, copper and brass articles. The industry of silver and gold filigree and hand made lace enjoy an international reputation.
Visit www.gov.mt
Back to Financial Malta |