4 PRIMARY INCOME
for periods indicated
in million U.S. dollars
	2023 p												Q1	Q2	Q3	Q4		Growth (%)	Jan-Dec		Growth (%)
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Q1	Q2	Q3	2022 r	2023 p	2023 p	2022 r	2023 p	2023 p

Primary Income	405	439	-167	353	198	336	456	380	442	438	654	481	678	887	1,278	1,527	1,573	3.0	4,949	4,416	-10.8
Receipts	1,259	1,129	1,429	1,331	1,317	1,316	1,377	1,393	1,391	1,412	1,503	1,505	3,818	3,964	4,161	3,693	4,419	19.7	13,024	16,362	25.6
Payments	854	690	1,596	978	1,119	980	921	1,013	949	974	848	1,024	3,140	3,077	2,883	2,166	2,846	31.4	8,076	11,946	47.9

Compensation of employees	762	676	769	725	649	697	748	800	801	787	766	889	2,207	2,071	2,349	2,370	2,442	3.0	8,878	9,070	2.2
Receipts	779	690	789	741	687	712	764	812	813	812	789	902	2,258	2,140	2,389	2,426	2,503	3.2	9,067	9,289	2.5
Payments	17	14	20	16	38	14	15	13	12	24	22	14	51	68	39	56	60	8.0	189	219	16.4

Investment income	-357	-236	-936	-372	-451	-362	-292	-419	-360	-350	-112	-408	-1,529	-1,184	-1,071	-844	-869	-3.1	-3,930	-4,654	-18.4
Receipts	480	440	640	590	630	604	614	581	578	600	714	602	1,559	1,825	1,772	1,266	1,916	51.3	3,957	7,072	78.7
Payments	837	676	1,576	962	1,081	966	906	1,000	937	950	826	1,010	3,089	3,009	2,843	2,110	2,786	32.0	7,887	11,727	48.7

Direct investment	-293	-223	-959	-254	-329	-365	-238	-384	-346	-307	-54	-298	-1,475	-947	-968	-821	-659	19.8	-3,136	-4,048	-29.1
Receipts	191	204	263	231	252	246	265	223	238	234	344	249	658	729	727	490	827	68.7	1,280	2,941	129.8
Payments	484	427	1,222	485	581	611	504	607	584	541	398	547	2,132	1,676	1,695	1,311	1,485	13.3	4,416	6,989	58.3

Income on equity and investment fund shares	-257	-197	-946	-238	-302	-330	-229	-366	-320	-273	-31	-276	-1,400	-870	-915	-664	-580	12.7	-2,904	-3,765	-29.6
Receipts	.	1	39	4	23	20	39	-5	9	7	109	11	40	47	42	3	127	3,665.7	57	257	354.1
Payments	257	197	986	242	325	350	268	361	329	280	139	287	1,440	918	958	667	707	6.0	2,961	4,022	35.8

Dividends and withdrawals from
income of quasi-corporations	-169	-123	-843	-148	-195	-189	-110	-109	-233	-180	52	-168	-1,134	-532	-451	-348	-296	14.8	-1,494	-2,414	-61.6
Receipts	3	6	71	10	30	22	38	12	16	16	118	28	80	61	66	62	161	162.5	181	368	103.3
Payments	172	129	913	158	225	210	148	121	248	196	66	196	1,214	593	518	409	458	11.9	1,675	2,783	66.1

Direct investor in direct investment
enterprises	-169	-123	-843	-148	-195	-189	-110	-109	-233	-180	52	-168	-1,134	-532	-451	-348	-296	14.8	-1,494	-2,414	-61.6
Receipts	3	6	71	10	30	22	38	12	16	16	118	28	80	61	66	62	161	162.5	181	368	103.3
Payments	172	129	913	158	225	210	148	121	248	196	66	196	1,214	593	518	409	458	11.9	1,675	2,783	66.1

Reinvested earnings	-89	-74	-104	-90	-107	-141	-119	-257	-87	-93	-82	-108	-266	-338	-464	-316	-283	10.3	-1,410	-1,351	4.2
Receipts	-4	-5	-31	-5	-6	-2	.	-17	-7	-9	-9	-17	-40	-13	-24	-58	-34	41.0	-125	-112	10.5
Payments	85	69	72	84	101	140	120	240	81	84	74	91	226	324	440	258	249	-3.4	1,286	1,239	-3.6

Interest	-35	-26	-13	-16	-27	-35	-9	-18	-26	-33	-24	-22	-74	-77	-53	-157	-79	49.8	-232	-283	-22.1
Receipts	192	203	223	227	229	226	227	229	229	227	235	238	618	682	685	487	700	43.8	1,223	2,684	119.4
Payments	227	229	236	242	255	261	236	247	255	260	259	260	692	759	737	644	779	20.9	1,455	2,967	103.9

Direct investor in direct investment
enterprises	-35	-26	-13	-16	-27	-35	-9	-18	-26	-33	-24	-22	-74	-77	-53	-157	-79	49.8	-232	-283	-22.1
Receipts	192	203	223	227	229	226	227	229	229	227	235	238	618	682	685	487	700	43.8	1,223	2,684	119.4
Payments	227	229	236	242	255	261	236	247	255	260	259	260	692	759	737	644	779	20.9	1,455	2,967	103.9

Memorandum: Interest before FISIM	-43	-28	-23	-17	-39	-37	-11	-20	-34	-40	-29	-24	-95	-93	-65	-170	-93	45.4	-310	-345	-11.6
Receipts	192	203	223	227	229	226	227	229	229	227	235	238	618	682	685	487	700	43.8	1,223	2,684	119.4
Payments	235	232	246	244	268	263	238	248	263	267	264	262	713	774	750	657	793	20.7	1,533	3,029	97.6

Portfolio investment	-254	-122	-185	-245	-190	-92	-286	-226	-163	-125	-94	-114	-560	-528	-675	-346	-333	3.8	-2,393	-2,096	12.4
Receipts	46	24	36	26	60	29	41	29	27	35	38	33	106	115	97	83	106	26.9	389	425	9.1
Payments	300	146	221	271	250	121	327	256	190	160	132	147	666	643	773	430	439	2.2	2,782	2,521	-9.4

Income on equity and investment fund shares	-15	-13	-54	-131	-196	-35	-13	-126	-42	-29	-88	-65	-81	-361	-181	-129	-182	-40.5	-901	-805	10.6
Receipts	.	.	.	1	7	1	1	.	.	.	.	2	1	8	1	.	2	604.3	1	12	1,263.9
Payments	15	13	54	132	202	35	13	126	42	29	88	67	82	370	182	130	184	41.8	902	817	-9.4

Dividends on equity excluding
investment fund shares	-15	-13	-54	-131	-196	-35	-13	-126	-42	-29	-88	-65	-81	-361	-181	-129	-182	-40.5	-901	-805	10.6
Receipts	.	.	.	1	7	1	1	.	.	.	.	2	1	8	1	.	2	604.3	1	12	1,263.9
Payments	15	13	54	132	202	35	13	126	42	29	88	67	82	370	182	130	184	41.8	902	817	-9.4

Central Bank	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Deposit-taking corporations, except
the central bank	0	-1	.	-21	-51	-21	.	.	-34	0	-37	-20	-1	-93	-34	-14	-57	-302.7	-149	-185	-24.2
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	1	.	21	51	21	.	.	34	0	37	20	1	93	34	14	57	302.7	149	185	24.2
General Government	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Other Sectors	-15	-12	-54	-110	-145	-14	-13	-126	-9	-29	-51	-45	-80	-269	-147	-115	-124	-8.0	-752	-620	17.5
Receipts	.	.	.	1	7	1	1	.	.	.	.	2	1	8	1	.	2	604.3	1	12	1,263.9
Payments	15	12	54	110	152	15	13	126	9	29	51	47	80	277	148	115	127	9.6	752	631	-16.1

Interest	-239	-109	-131	-114	5	-58	-273	-100	-120	-96	-6	-49	-479	-166	-494	-217	-151	30.2	-1,492	-1,291	13.5
Receipts	46	23	36	26	53	28	40	29	27	34	38	32	105	107	97	83	104	24.7	388	413	6.3
Payments	285	132	167	140	48	86	313	130	148	130	44	80	585	273	591	300	255	-15.0	1,880	1,704	-9.4

Short-term	-22	-9	-7	-5	3	-3	-1	.	-1	-14	-1	-1	-38	-6	-3	-77	-16	79.5	-276	-63	77.3
Receipts	.	1	1	.	7	1	0	0	.	.	.	.	2	7	.	3	.	-87.4	12	10	-15.2
Payments	22	10	8	6	4	4	1	.	1	14	1	1	40	14	3	80	16	-79.8	288	73	-74.8

Central Bank	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Deposit-taking corporations, except
the central bank	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--

General Government	-1	.	-1	.	.	.	-1	.	-1	-1	-1	-1	-2	.	-2	-2	-2	-35.9	-4	-7	-75.0
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	1	.	1	.	.	.	1	.	1	1	1	1	2	.	2	2	2	35.9	4	7	75.0
Other Sectors	-21	-8	-6	-5	3	-3	.	.	.	-13	.	.	-35	-6	-1	-75	-13	82.1	-272	-56	79.5
Receipts	.	1	1	.	7	1	0	0	.	.	.	.	2	7	.	3	.	-87.4	12	10	-15.2
Payments	21	10	6	6	4	4	.	.	1	13	.	.	38	13	1	78	14	-82.3	284	66	-76.8

Long-term	-217	-100	-124	-109	3	-54	-272	-100	-119	-83	-5	-48	-441	-160	-491	-140	-136	3.1	-1,216	-1,228	-1.0
Receipts	46	22	35	25	47	28	40	29	27	34	38	32	103	100	96	80	103	28.9	376	403	7.0
Payments	263	122	159	134	44	82	312	129	146	117	43	79	544	260	588	220	239	8.6	1,592	1,631	2.4

Central Bank	0	0	0	0	0	-4	0	0	0	0	0	-4	0	-4	0	-5	-4	12.8	-10	-8	12.9
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	0	0	0	0	4	0	0	0	0	0	4	0	4	0	5	4	-12.8	10	8	-12.9
Deposit-taking corporations, except
the central bank	-9	-2	-38	-7	-1	-13	-9	-10	-24	-3	-1	-10	-50	-22	-43	-24	-14	43.7	-161	-129	20.0
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	9	2	38	7	1	13	9	10	24	3	1	10	50	22	43	24	14	-43.7	161	129	-20.0
General Government	-223	-120	-121	-113	-35	-35	-277	-119	-121	-97	-34	-37	-464	-183	-517	-125	-169	-35.3	-1,196	-1,333	-11.5
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	223	120	121	113	35	35	277	119	121	97	34	37	464	183	517	125	169	35.3	1,196	1,333	11.5
Other Sectors	15	22	35	12	40	-2	14	29	26	17	31	3	72	49	70	14	51	261.0	151	242	60.7
Receipts	46	22	35	25	47	28	40	29	27	34	38	32	103	100	96	80	103	28.9	376	403	7.0
Payments	31	.	1	13	7	30	26	.	1	17	7	28	31	50	27	66	52	-21.1	226	160	-28.9

Other investment	45	-2	-29	-94	-140	-122	30	-26	-53	-156	-193	-214	14	-356	-49	-105	-563	-436.6	-151	-954	-531.8
Receipts	98	101	104	112	110	112	106	111	110	93	103	102	304	334	327	264	299	13.0	538	1,263	134.7
Payments	54	103	133	206	250	234	76	137	163	250	296	316	290	690	376	369	861	133.3	689	2,217	221.7

Interest	45	-2	-29	-94	-140	-122	30	-26	-53	-156	-193	-214	14	-356	-49	-105	-563	-436.6	-151	-954	-531.8
Receipts	98	101	104	112	110	112	106	111	110	93	103	102	304	334	327	264	299	13.0	538	1,263	134.7
Payments	54	103	133	206	250	234	76	137	163	250	296	316	290	690	376	369	861	133.3	689	2,217	221.7

Central Bank	0	-27	0	0	-32	0	0	-37	0	0	-38	0	-27	-32	-37	-17	-38	-127.1	-28	-134	-385.0
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	0	27	0	0	32	0	0	37	0	0	38	0	27	32	37	17	38	127.1	28	134	385.0
Deposit-taking corporations, except
the central bank	58	59	57	61	55	57	53	58	54	35	39	42	174	173	165	171	116	-32.2	367	627	70.9
Receipts	69	71	72	77	73	74	67	72	70	51	59	57	212	224	208	203	167	-17.9	447	811	81.4
Payments	11	11	15	16	19	17	14	13	16	16	20	15	38	52	43	33	51	57.2	80	184	129.2
General Government	-22	-46	-88	-172	-169	-188	-30	-59	-106	-205	-195	-264	-156	-529	-195	-260	-665	-155.2	-439	-1,545	-251.8
Receipts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--
Payments	22	46	88	172	169	188	30	59	106	205	195	264	156	529	195	260	665	155.2	439	1,545	251.8
Other Sectors	9	12	3	17	6	9	7	12	-1	14	2	9	23	32	18	2	24	1,380.2	-51	98	290.8
Receipts	29	31	33	35	37	38	39	40	40	43	44	45	92	109	119	61	132	115.5	91	452	396.8
Payments	20	19	29	18	30	29	32	28	41	29	42	36	68	78	101	60	108	80.6	142	354	149.3

Memorandum: Interest before FISIM	9	-48	-82	-128	-198	-184	-13	-68	-109	-213	-267	-285	-120	-510	-191	-207	-766	-269.7	-375	-1,587	-323.7
Receipts	84	84	91	89	84	86	83	88	90	64	71	72	258	259	262	237	206	-13.2	543	985	81.5
Payments	74	132	172	217	282	270	97	157	200	277	338	357	378	769	453	444	972	118.6	917	2,572	180.4

Investment income attributable to policyholders
in insurance, pension schemes, and
standardized guarentee schemes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--

Reserve assets	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6
Receipts	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6

Interest	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6
Receipts	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6

Memorandum: Interest before FISIM	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6
Receipts	145	110	237	221	208	217	202	217	202	238	229	218	492	647	621	428	685	59.8	1,750	2,444	39.6

Other primary income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	--	0	0	--

Details may not add up to total due to rounding.
p Preliminary
r Revised to reflect data updates from the results of the 2022 Coordinated Direct Investment Survey (CDIS), MLT Foreign Loan Transactions Report, revision of estimates due to updates from other official data sources, and post-audit adjustments
. Rounds off to zero
-- Undefined/Indeterminate Growth Rate