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Home Finance Malta’s current account surplus falls to €48.9m in Q1
  • Finance

Malta’s current account surplus falls to €48.9m in Q1

By
Manfredi Bertelli
-
Monday, 24 June, 2019 at 12:13 pm
(source: Unsplash/Christian Dubovan)

Last Updated on Monday, 24 June, 2019 at 12:23 pm by Christian Keszthelyi

Malta’s current account surplus was down to €48.9m during the first quarter of 2019 from a surplus of €296.3m in Q1 2018, according to provisional figures by the National Statistics Office (NSO).

This surplus was primarily the result of a positive net balance of the services account of €825.8m marked by improvements in the net balances of the other services, travel and transport accounts. This was partially outweighed by negative net balances in the goods account (€414m), primary income account (€324.4m) and secondary income account (€38.5m), according to NSO figures.

During Q1 2019, the capital account registered a positive net balance of €26.5m, compared to a positive balance of €3.4m in 2018, as the NSO figures show.  

In addition, the financial account was shaped by net asset decreases of €51.8m, an improvement in the net balance of assets of €117.5m over the same quarter in 2018.

The development in the financial account balance was mainly the result of lower direct investment by €2.451b, higher financial derivatives liabilities (€90.2m) and a decline in the reserve assets of the country by €42.4m. These were partially offset by higher other investment (€1.435b) and portfolio investment (€1.097b).

The full report including charts and visual representation of data is available for download at the website of NSO.

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  • TAGS
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  • deficit
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Manfredi Bertelli
Manfredi used to be a junior journalist working with Business Malta, the predecessor of Malta Business Weekly's online platform. He enjoys putting his creativity into his writing and is committed to learning new styles to strengthen his skills and embellish his flair.

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