Malta joined the European Union in 2004
Capital city: Valletta
Population: 405,165 (July 2009 est.)
Currency: Euro
Language: Maltese / English
Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between the EU and Africa makes it a recipient of illegal immigration, which has strained Malta's political and economic resources. The financial services industry has grown in recent years, but is not fully modernized. Malta's economy is dependent on foreign trade, manufacturing - especially electronics and pharmaceuticals - and tourism all of which have been negatively affected by the global economic downturn. Malta adopted the euro on 1 January 2008.
GDP - composition by sector
agriculture: 1.4%
industry: 18%
services: 80.6% (2007 est.)
Source: CIA
