GozoNews.Com

Provisional estimates for 2006 indicate that Gozo’s contribution to national Gross Domestic Product at market prices is 5.8 per cent, or Lm125.4 million (€292.1 million). Gross Value Added (GVA) for Malta grew by 5.9 per cent in 2006, whilst that for Gozo went up by 3.5 per cent. Service activities (excluding other services) and Industry (including energy and construction) contributed positively towards Gozo’s Gross Value Added (GVA). Employment in Industry (including energy) declined in both regions.

The gross value added at basic prices for Malta stood at Lm1,749.6 million in 2006, an increase of 34.8 per cent over the 1999 figure. In Gozo, gross value added stood at Lm107.4 million, up by 23.1 per cent over the seven-year period. The share of Gozo’s contribution to the national agriculture and fishing sector amounted to 16.7 per cent in 2006, confirming the island’s higher dependence on this primary sector compared to the mainland.

In industry, Malta registered a larger percentage increase in gross value added, while in construction the opposite was the case.

In non-financial services (comprising wholesale and retail trade, hotels and restaurants, transport and communications), gross value added edged up in Gozo and declined in Malta. However, both regions registered substantial gross value added increases in the financial, real estate, renting and business activities during 2006. In the other service activities, gross value added advanced in Malta, with Gozo’s share declining as more remote gaming companies set up shop in Malta.

Overall, employment in both regions went up in 2006. However, employment figures in industry continued declining, with Gozo registering the larger percentage drop. On the other hand, employment in the primary sector and in the services activities went up