Q2 2022: Current account deficit of €255m – NSO

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

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

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

During the second quarter of 2022, the capital account registered a positive net balance of €40.2m, €24.3m higher than the figure recorded in 2021.

The financial account was shaped by net asset increases of €438.4m, an increase in the balance of net assets of €219.9m 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 (€2,238.4m), other investment (€819.8m) and financial derivatives (€10.8m). This was partly offset by negative net asset balances recorded in direct investment (€2,484.8m). Reserve assets also decreased by €145.8m during the same period.