In 1964, Malta attained its Independence. Ten years later, in 1974, it was declared a Republic within the Commonwealth.

Until the 1960s, the Maltese economy depended mostly on the British services and the Naval Dockyard.

After independence, industry and tourism advanced at a fast pace, and today Malta and Gozo have established an industrial and services economy and flourishing tourist enterprises. Malta applied for membership of the European Union in 1990.