Gozo contributes €409 million to GDP in 2014

Provisional estimates for 2014 indicate that Gozo’s contribution to national Gross Domestic Product (GDP) at market prices accounted to 5.1 per cent, or €409.9 million.

Gross Value Added (GVA) for the region of Malta increased by 4.9 per cent in 2014, while that for Gozo increased by 7.3 per cent.

The majority of the industries in Gozo registered increases when compared to the previous year.

The main increases resulted in economic activities relating to information and communication, and professional, scientific, technical, administrative and support service activities. Decreases were recorded in the industries comprising real estate, financial and insurance activities. The contribution of the private sector in Gozo accounted to 74.2 per cent of the total GVA.

The total population in Malta increased by 1.0 per cent, whereas that in Gozo increased marginally.

Almost all industries in Gozo registered an increase in employment during 2014. Main increases resulted in professional, scientific, technical, administrative and support services and information and communication activities. Drops in employment were mainly recorded in mining and quarrying and water supply, sewerage, waste management and remediation activities.

The number of unemployed persons (Parts I and II) decreased in both Malta and Gozo, by 5.7 and 1.2 per cent respectively.