Malta registered a current account deficit of €382.7 million in the year’s second quarter, provisional figures have indicated - an increase of €55 million over the same period last year. 

The National Statistics Office said that figures for Malta’s external transactions show that between April and June, the current account balance recorded a deficit of €382.7 million, compared to a deficit of €327.5 million in the same quarter of the previous year.

This was primarily the result of negative net balances recorded in the goods account (€665.2 million), the primary income account (€333.7 million) and the secondary income account (€43.5 million). This was partly offset by a positive net balance of €659.6 million in the services account. 

During the same quarter, the capital account registered a positive net balance of €15.9 million, €7.5 million lower than the figure recorded in 2020. 

The financial account was shaped by net asset increases of €110.4 million, an increase in the balance of net assets of €167.9 million when compared to the value recorded in the same quarter of 2020.

The development in the financial account balance was mainly brought about by positive net asset balances in portfolio investment (€1.9 billion) and other investments (€742 million).

This was partly offset by a negative net asset balance recorded in direct investment (€2.6 billion). 

Financial derivatives and reserve assets increased by €12 million and €3.1 million respectively during the same period.