The adoption of the European System of Accounts 1995 framework in the national accounts of Malta

The release of ESA 1995 GDP data for Malta has ushered in great changes in the way in which the Maltese economy can be analysed. Indicators computed from the new national accounts reveal that the Maltese economy has achieved a relatively high degree of convergence with the European average, especially when compared with other new Member States. However some industries which are less subject to competitive pressures under-perform compared with their European counterparts, while employment rates remain very low.