Malta GDP shrinks over 16 pct in Q2Christian Fernsby ▼ | August 29, 2020
Malta's gross domestic product (GDP) shrank by over 16 percent year-on-year in volume terms in the second quarter (Q2), the country's National Statistics Office said on Friday.
Shrink Malta street
During Q2, gross value added (GVA) fell by 15.1 percent in volume terms. It fell significantly as a result of widespread contractions across all main sectors of the Maltese economy.
The services sector of the country fell by 15.7 percent, industry decreased by 12.8 percent, construction contracted by 8.6 percent and agriculture and fishing declined by 13.6 percent.
In nominal terms, Malta's GDP shrank by 14.9 percent in Q2 year-on-year. ■