The nation’s current account is still in the red but figures released yesterday show a marked improvement in the first three months of the year.

The National Statistics Office said provisional data showed that in the three months to March, the current account balance – the difference between exports and imports – stood at minus €54.8 million. This figure shows an improvement on the deficit of €221.6 million registered in the same period last year.

A decline in import expenses of €59.3 million and an increase in export earnings of €50.3 million helped reduce the negative balance in the goods account.

The NSO said Malta’s trade deficit with the EU improved by €55.2 million while the surplus with the rest of the world improved by €111.5 million.

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