Malta registers current account surplus of €339.1 m in third quarter

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Malta registered current account surplus of €339.1 m in third quarter9 mDuring the third quarter this year, Malta registered a current account surplus of €339.1 million, as compared to a surplus of €120.0 million registered in the comparable quarter last year, the National Statistics Office said today.

Leading towards this surplus was primarily a positive net balance of the services account of €944.0 million marked by improvements in the net balances of the other services, travel and transport accounts.

Moreover, the secondary income account recorded a positive net balance of €62.9 million. These were partially outweighed by declines in the goods and primary income accounts of €503.5 million and €164.3 million respectively.

During the third quarter of 2016, the capital account registered a positive net balance of €0.8 million as compared to a positive balance of €2.2 million last year.

The financial account was shaped by net asset increases of €539.6 million as opposed to a negative net balance of assets of €567.6 million during the same quarter of 2015. The improvement in the financial account balance was mainly the result of higher other investment net assets partially outweighed by a decline in net direct investment assets.

Moreover, net portfolio investment registered an increase of €342.0 million. As a direct effect of the above shifts in the statement, the reserve assets of the country decreased by €8.5 million compared to an increase of €9.4 million during the September quarter last year.

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