Malta: Services turnover registered highest quarterly increase in December 2020

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Turnover in services fell by 15.9 percent in the final quarter of 2020 compared to the same period the previous year. Accommodation and food service activities registered the highest drop, decreasing 58.2 percent year-on-year, according to figures by the National Statistics Office. At the other hand of the scale, the only increase from 2019 was observed in the information and communication sector, rising by 5.4 percent.

Wholesale and retail services turnover declined by 13.8 percent, but motor trade specifically still registered an increase of 2.4 percent.

Compared to the third quarter 2020, turnover in services grew by 8.3 percent, the highest quarter-on-quarter increase all year. Despite the steep drop from Q4 2019, accommodation and food service activities witnessed the biggest rise from the Q3 2020 (60.3%).

The only service sector to register a decrease from the previous quarter was professional, scientific and technical activities (-3.6%). Wholesale trade and motor trade also reported declines of 2.6 percent and 0.5 percent, respectively, despite a general increase of 2.3 percent in wholesale and retail activities.

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