Malta has the highest growth in industrial production in Europe

Following the National Statistics Office’s (NSO) publication showing that in January, Malta saw its highest growth in industrial production in two years, a Eurostat announcement has confirmed our industry’s positive condition.

According to Eurostat, in January 2015, Malta had the best industrial production growth amongst EU countries.

The report said that in January, Malta saw a growth of 6.1% against a drop of 0.1% in the Eurozone, and that even on an annual basis, whereas Malta saw an increase of 8.1% whereas the rise in the Eurozone was of a mere 1.4%.

A report published by NSO showed that during the last quarter if 2014, manufacture sales increased by 4.9%. The government said that this increase was distributed among all sectors. It added that the number working hours within the industry had also risen compared to the previous year, which resulted in them having 2.2% more in payment. This, the government claimed, when the opposition is stressing a drop in workers’ pays.

“Whereas opposition spokespeople used to publish negative statements at every drop in the industry, the silence that is currently reigning is quite telling. The opposition has failed to comment on the three positive statements published this week, which confirms that the opposition isn’t interested in a serious debate on the subject,” the government added.

The government added that according to research by the European commission, a majority of 42% of industial companies were expecting more orders in the coming months, and 39% believe they would be employing more people.

“Given these figures, the level of confidence amongst industrial companies in Malta is the third best in the EU.”

The government added that it was pleased to receive these confirmations of the betterment of the industry, and said that it would continue to work on the sector through different measures like the reduction of utility bills and the drop in fuel prices as well as more training for young people.

“All of these measures aim to strengthen our economy,” the government added.