Multiplicative arithmetic is the first-order theory T of natural numbers with multiplication. A famous theorem of Skolem (1930) asserts that T is decidable. Later proofs of this fact were given by Feferman-Vaught (1959) and Ferrante-Rackoff (1979). The latter also established an asymptotic upper complexity bound for the decision problem. All proofs are based on the isomorphism of $(N,.)$ with $(N_0^*,+)$ and the decidability of Presburger arithmetic. The talk investigates the problem of algorithmic quantifier elimination (QE) for T in a suitable extension language. In his Habilitationsschrift (1979) the author established a QE procedure for T in a large and rather unnatural extension language by very general principles. Here we present an efficient "restricted" QE for T can be performed in a "natural" extension language. The method yields also explicit parametric solutions for existential problems. We also discuss the asymptotic and the practical complexity of the method.