Current account balance at €183.2 million in first quarter

During the first quarter of this year, Malta’s current account balance improved by €183.2 million.

Provisional figures for Malta’s external transactions during the first quarter show a current account surplus of €106.1 million when compared to a deficit of €77.1 million during the comparable quarter last year. The main contributors to this improvement were the goods account, especially due to decreases in imports; and the primary income account, where there were increases in net interests from abroad.

The financial account of the statement registered a slight decrease in net assets in the first quarter this year. There were two main accounts contributing to the financial account.

Decreases registered in net direct investment assets, amounting to €1,988.4 million, were mainly attributed to an increase in equity liabilities. On the other hand, net assets in the other investment account improved, mainly due to an increase in assets of €1,875.4 million.

During the first quarter, the reserve assets registered a decrease of €63.9 million.