The evolution of the Maltese economy since independence

This paper surveys the performance of the Maltese economy in the first half century since independence. The picture that emerges is of a nation that has benefitted from an extraordinary rate of economic growth and a significant reduction in volatility. The Maltese economy has matured exceedingly rapidly, with cycles of inflation and unemployment becoming much less pronounced and with a consistent underlying downward trend. The economic structure has shifted strongly towards services, which has led to an increased demand for labour that has accommodated the secular rise in female participation.