Last Updated on Tuesday, 26 September, 2023 at 11:38 am by Andre Camilleri
Provisional figures for Malta’s external transactions show that during April-June 2023, the current account balance recorded a deficit of €3.8 million, compared to a deficit of €275.2 million in the same quarter of the previous year. This deficit was primarily the result of negative net balances in the goods account (€707.2 million), primary income account (€669.6 million) and secondary income account (€22.9 million). This was partly offset by a positive balance recorded in the services account (€1,395.9 million).
During the second quarter of 2023, the capital account registered a positive net balance of €48.1 million, which represents a decrease of €12.6 million when compared to the second quarter of 2022.
The financial account was shaped by net asset increases of €882.5 million, an increase in the balance of net assets of €1,290.8 million when compared to the value recorded in the same quarter of 2022. The development in the financial account balance was mainly brought about by positive net asset balances in other investment (€1,733.7 million) and portfolio investment (€407.2 million). This was partly offset by negative net asset balances in direct investment (€1,294.5 million) and financial derivatives (€19.5 million). Reserve assets increased by €55.6 million during the same period.
