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Maltese-owned enterprises abroad increase turnover, jobs in 2014

In 2014, turnover and employment of Maltese-owned foreign affiliates grew by 133.1 per cent and 2.5 per cent respectively

5 December 2016, 12:44pm
Accommodation and food service activities was once again the dominant sector for 2014
Accommodation and food service activities was once again the dominant sector for 2014
Maltese-owned foreign affiliates generated €1,054.9 million in 2014, up by 133.1 per cent over the previous year.

According to the National Statistics Office, these enterprises employed 6,912 persons abroad, representing an increase of 2.5 per cent over 2013. Accommodation and food service activities was once again the dominant sector for 2014, although showing a decrease of 0.7 per cent over the previous year.

This sector employed 4,624 employees (1.1 per cent increase over the previous year), accounting for 66.9 per cent of total employment in foreign affiliates.

On the other hand, in 2014 the Education sector registered an increase of 27.1 per cent over the previous year in terms of turnover, generating €85.4 million.

Turnover of Maltese-owned foreign affiliates was mainly generated in countries outside the European Union, with €648.8 million, or 61.5 per cent of the total.

In 2014, turnover generated in Europe grew by 40.4 per cent when compared to 2013. Additionally, employment of Maltese-owned foreign affiliates was predominant in Europe with 4,953 employees, or 71.7 per cent of the total.

When comparing 2014 to 2013, such employment in Europe increased by 12.6 per cent, whereas in America employment increased by 23.3 per cent to 1,168 persons.

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