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Malta current account surplus reaches €390.5 million

Malta registered a current account surplus of €390.5 million in the first quarter of this year, official figures issued on Monday show.

Provisional figures for Malta’s external transactions show that during January-March 2018 the current account balance recorded a surplus of €390.5 million from a surplus of €247.2 million in the comparable quarter of 2017.

Leading towards this surplus was primarily a positive net balance of the services
account of €722.8 million marked by improvements in the net balances of the other services, travel and transport accounts. The secondary income account recorded a positive net balance of 58.1 million euro

These were partially outweighed by declines in the goods and primary income accounts of €227.8 million and €162.6 million respectively. 

During the first quarter this year, the capital account registered a positive net balance of €21.7 million, an increase of €4.1 million, when compared to a positive balance of €17.6 million in 2017.

The financial account was shaped by net asset decreases of €166.9 million, a decline in net balance of assets of €562.3 million over the March quarter last year. The development in the financial account balance was mainly the result of lower net direct investment assets and net portfolio investment assets
by €2,236.7 million and €52.6 million respectively partially outweighed by an increase in net other investment assets.

As a direct effect of the above shifts in the statement, the reserve assets of the
country increased by €28.3 million compared to a decrease of €25.2 million during the comparable quarter in 2017.

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