Recent provisional data published by the National Statistics Office earlier this month confirms that the construction industry registered a 2.9% increase in the Gross Value Added (GVA) when comparing 2020 with 2019.
This is in stark contrast to the national GVA which, in 2020, fell by 4.3% in nominal terms and 5.8% in volume terms when compared with that of 2019.
These results confirm once again the resilience of the construction industry and its many players, which when given the right incentives, respond positively. The overall significance of yet again another positive result in a situation of general doom and gloom, is that the construction industry is repeatedly coming out as one of the strongest of Malta’s economic sectors, providing continuous economic growth and stability.
The construction industry employs over 50,000 people in direct and indirect employment.
Whilst remaining focused on this success, the MDA will continue putting forward tangible concrete proposals to introduce more best practices within the industry and to ensure sustainability and better liveability. The MDA is committed to continue ensuring that the industry will continue to respond with more investment and increased enthusiasm to create more confidence and possibly more rapid growth in the economy.