Malta’s economy continues to show resilience amid global challenges or the transport and logistics sector with imports and exports expected to expand by around 5% annually.
Addressing the Association of the Tractor and Trailer Operators (ATTO)’s first international conference earlier this week, Malcolm Bray, Head of Bank of Valletta’s Economic Unit provided an economic outlook highlighting Malta’s resilience in a shifting global landscape.
Bray noted that while major European economies like France and Germany are experiencing slow growth, Malta continued to record elevated real GDP growth in 2024, estimated at 5%, with a steady 4% annual growth projected in the medium term. Imports and exports are also expected to expand by around 5% annually, reinforcing the country’s position as a key logistics hub.
However, the European transport sector faces dampening factors, including shifting consumer spending from goods to services, an ageing population, and declining global competitiveness.
In contrast, Malta’s labour market continues to expand, with 120,000 new jobs created in recent years, though the majority have been filled by non-EU workers reflecting limited domestic labour supply as well as wage considerations.
Bray identified nearshoring, productivity improvements, and workforce shortages as key focus areas for the transport sector. While external shocks caused by the pandemic and the Ukraine war have stabilised, industry leaders at the conference stressed that long-term planning, digitalisation, and environmental transition will be crucial for Malta’s continued economic and logistical success.
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