Czech current account surplus widens in Nov 2011, surprises market.

By bne IntelliNews January 16, 2012
Czech current account surplus widened to CZK 6.61bn (EUR 258.1mn) in November 2011 from CZK 1.31bn a month earlier, the central bank said. Analysts polled by Reuters were expecting a gap of CZK 0.3bn. The central bank said the November surplus was thanks to a surplus on the balance of trade in goods and services, while the gap on the income account widened. In November the country registered its fifth current account surplus last year. Dividend payment totalled CZK 5.6bn in November. The balance of current transfers included a deficit of CZK 2.9bn on transfers from the Czech Republic to the EU budget. On the capital account, a total of CZK 7bn was drawn from the EU budget. The Czech current account deficit stood at CZK 71.45bn in January to November 2011.
Balance of Payments (CZK mn)
2011/10 2011/11
I Current Account 1.311 6.611
A. Goods 18.619 11.614
B. Services 5.327 4.525
C. Income -18.861 -11.015
D. Current transfers -3.775 0.597
II Capital Account 3.306 7.066
III Financial Account -18.913 13.131
1. Direct investment 7.603 5.524
2. Portfolio Investment 6.801 5.835
3. Financial Derivatives 0.115 -2.455
4. Other Investment -31.067 12.784
5. Reserves assets -2.365 -8.557
IV Errors and omissions 14.297 -26.808
Source: CNB
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