Foreign-controlled enterprises in Malta employed 43,617 people and paid out €1.7 billion in employee salaries and benefits in 2022, according to new statistics released by the National Statistics Office (NSO).

Although they only make up 2.8 per cent of all busines units in Malta, foreign firms play a major role in the country's economy, generating 43.6 per cent of all value added.

Large enterprises make up the lion's share of this impact, contributing 70.5 per cent of value added by foreign firms and 59.3 per cent of employee benefits.

Micro-sized enterprises, despite constituting 52.6 per cent of foreign-owned business units, contributed only 2.3 per cent to value added and 1.2 per cent to net turnover.

A notable sector within the foreign-controlled sphere are technological solutions, professional, and business support activities, which accounted for 58.6 per cent of the total foreign business units.

This sector also led in value added and gross operating surplus, contributing 18.2 per cent and 22.6 per cent, respectively, to the combined total of foreign and resident-controlled enterprises.

Enterprises controlled by EU nationals accounted for the largest share of employment, employing 22,219 people, which represented 50.9 per cent of the total workforce in the foreign-controlled sector.

These enterprises also paid out €829.4 million in employee benefits, underlining their substantial contribution to the local economy.

Maltese-owned firms abroad

Maltese-owned foreign affiliates, operating in 51 countries, reached €1.4 billion in turnover in 2022, marking an impressive 50.3 per cent increase from the previous year.

Most of this turnover was generated within the EU, with figures amounting to €1 billion, or 73.2 per cent of the total.

In 2022, a significant development was also noted in the United Kingdom, where Maltese-owned entities saw their net turnover increase by €70.7 million compared to 2021.

Employment within these Maltese-controlled foreign affiliates was predominantly in EU member states, accounting for 11,918 individuals or 80.3 per cent of their workforce, particularly in non-euro area member countries.

The total number of employees working for Maltese-owned affiliates abroad rose to 14,834, reflecting an 11.3 per cent growth over the previous year.