6i. Exports and Imports

What are exports?

Goods or services that a country sells to other counties.

What are imports?

Goods or services that a country buys from other countries.

What is Malta most known for exporting?

• Machinery

• Pharmaceutical products

• Fish

• Electronic parts

• Services like online gaming and tourism

What are some things Malta imports?

• Petroleum products (for energy and transportation)

• Cars for personal and commercial use

• Food items that are not produced locally (avocado)

Why has Maltas strategic location in the Mediterranean been crucial for its development?

It serves as a hub between Europe, North Africa, and the Middle East, making it important for trade and tourism.

Explain Malta’s economic development in terms of Economy

There has been significant growth in sectors like finance, online gaming and tech services.

It’s EU membership since 2004 has also boosted the economy and investment opportunities

Social Implications

Economic growth has led to various social changes like

• Increased employment

• Higher standard of living

What challenged does it present:

• Rising property prices

• Increased traffic

Settlement Growth and High Rise

As the economy has grown, so has the demand for housing and commercial spaces.

This has led to more high-rise developments, particularly in urban areas like Sliema and St. Julian’s.

This has changed the islands traditional skyline and how people live.

What are the benefits of Malta exporting goods to other counties?

It helps Malta earn money from other counties.

This money can be used to improve things like schools, roads and hospitals, creating jobs for people who make and sell these goods.

Why does Malta need to import so many products?

Because it’s a small island with limited resources.

Importing things like oil, cars and certain food ensures Maltese people have access to all the things they need in their daily lives

How has Maltas location affected its development

Its central location in the middle of the Mediterranean Sea has made it an important spot for trade and tourism.

This location has helped it develop economically by connecting it with many different counties and cultures.