During the second quarter of 2022, Malta registered a current account deficit of €255.9 million.

Provisional figures for Malta’s external transactions show that during April-June 2022, the current account balance recorded a deficit of €255.9 million, compared to a deficit of €347.9 million in the same quarter of the previous year.

This deficit was primarily the result of negative net balances recorded in the goods account (€758.9 million), the primary income account (€267.3 million) and the secondary income account (€140.1 million). This was partly offset by a positive net balance of €910.4 million recorded in the services account.

 During the second quarter of 2022, the capital account registered a positive net balance of €40.2 million, €24.3 million higher than the figure recorded in 2021. The financial account was shaped by net asset increases of €438.4 million, an increase in the balance of net assets of €219.9 million when compared to the value recorded in 2021.

The development in the financial account balance was mainly brought about by positive net asset balances in portfolio investment (€2,238.4 million), other investment (€819.8 million) and financial derivatives (€10.8 million). This was partly offset by negative net asset balances recorded in direct investment (€2,484.8 million). Reserve assets also decreased by €145.8 million during the same period.