Malta’s economy expanded 3.0% year-over-year in the third quarter of 2025, following 2.8% growth in Q2 and remaining near its slowest pace in over two years. Household consumption rose 3.2% (up from 3.1% in Q2), driven by spending on restaurants and accommodation, transport, and information and communication services. Net trade contributed 1.5 percentage points to GDP, as exports increased 3.9% while imports grew more slowly at 3.1%. Inventories and valuables added an additional 0.4 percentage points. In contrast, fixed capital formation fell 1.4% (versus a 1.5% rise in Q2), weighed down by reductions in machinery and equipment as well as other buildings and structures. Government spending also slowed sharply, rising just 0.8% compared with 8.0% in the previous quarter.