NSO data 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.
These positive results were welcomed by the MDA. The MDA pledged that whilst remaining focused on this success, it will continue putting forward tangible concrete proposals to introduce more best practices within the industry and to ensure sustainability and better liveability.
Main industry player confirmed that this data gives the industry the confidence to continue responding with more investment and increased enthusiasm to possibly create more rapid growth in the economy.