Malta - the construction sector

Abstract

The construction industry in Malta during the year 2002 registered an increase of 12.1 % over the same period of 2001. The value added stood at Lm48.4 million or 3.4% of the Gross Domestic Product. The speeding up of work on a new general hospital, the increase in the outlay on construction and upgrading of roads and work in progress at the ferry terminal linking Malta with Gozo contributed significantly to this higher turnover. These are all Government outlays on construction which were higher than in 2001. In 2003, the nominal contribution of the Construction and Quarrying sector to the GDP decreased marginally to 3.3 per cent from 3.4 per cent in 2002110. The value added attributable to this industry went down by Lm0.3 million to Lm48.1 million, a reduction of 0.7 per cent over the previous year. Employment income remained unchanged at Lm32.6 million, with the public sector reducing its share and the private sector registering a 6.1 per cent increase in labour costs. During the year under review the profit component diminished by Lm0.3 million to 15.5 million, a year-on-year drop of 2.0 per cent (NSO; 58/2004).