Provisional figures published by the National Statistics Office (NSO) for Malta’s external transactions show that during January-March 2020, the current account balance recorded a surplus of €200.0 million as compared to a surplus of €127.9 million in the comparable quarter of 2019. This surplus was primarily the result of a positive net balance of the services account of €857.3 million marked by improvements in the net balances of the other services, transport and travel accounts. This was partially outweighed by negative net balances in the primary income account (€317.0 million), the goods account (€307.2 million) and the secondary income account (€33.1 million).
During the first quarter of 2020, the capital account registered a positive net balance of €22.5 million as compared to a positive balance of €41.5 million in 2019.
The financial account was shaped by net asset increases of €10.9 million, an increase in the net balance of assets of €90.9 million over the same quarter in 2019. The development in the financial account balance was mainly brought about by higher other investment (€1,978.6 million) and portfolio investment (€526.2 million). This was partially offset by lower direct investment (€2,408.2 million). Financial derivatives liabilities increased by €48.0 million whereas the reserve assets of the country went down by €37.7 million.