Profile of Malta
Malta is a small, developed, democratic Mediterranean island nation, located 60 miles south of Sicily at the crossroads of Southern Europe, North Africa and the Middle East. Its population of 400,000 is homogeneous and Roman Catholic. English is one of the two official languages and is widely spoken.
The EU is Malta’s major trading partner, accounting for around 65 percent of imports and about 48 percent of exports. Malta officially became a member of the EU in May 2004.
The United States is Malta’s second largest trading partner outside of the EU. Trade in U.S. goods is actually underreported, since many products are sold through European subsidiaries of U.S. companies. Direct production still accounts for more than one-third of Malta’s GDP. The contribution of the services sector, particularly tourism and financial services and wholesale and retail trade, account for some 20% of GDP. More than 1.1 million tourists visit Malta annually.