Malta: Services account reaches €857 million in first quarter

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The current account balance rose to €200 million between January and March, up from €128 million in the same period in 2019. Figures by the National Statistics Office show that Balance of Payment credit decreased by €180 million compared to the first quarter last year, with debit declined by €253 million.

The services account contributed to the surplus, registering a net €857 million driven by transport (€96 million) and travel (€95 million). Other services resulted in a combined €665 million net.

The goods account registered a negative net of €307 million, which was, however, an increase of €62 million from the same period last year (-€369 million). The services account, by comparison, rose by €4 million compared with 2019.

The primary income and secondary income accounts both ended with a negative net of €317 million and €33 million, respectively.

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