Macedonia's CA gap stands at 0.6% of GDP in January 2013

By bne IntelliNews April 1, 2013

The CA balance was a deficit of EUR 47.2mn or 0.6% of projected full-year GDP in January, according to data of the central bank. The January gap is 6.9% lower on the year. The annualised (Feb/12-Jan/13) CA balance is a deficit of EUR 287.8mn or 3.5% of GDP. The y/y improvement in January reflects a narrower merchandise trade deficit and a reversal to a net inflow in the services account. The merchandise trade deficit decreased by 10.1% y/y to EUR 129.9mn in January, as exports expanded by 9.1% y/y to EUR 229.3mn and imports edged up by 1.3% y/y to EUR 359.2mn. Current transfers dropped by 13.4% y/y to EUR 98.4mn in the first month of this year.

Balance of payments, EURmn    
  Jan-12 Jan-13
CURRENT ACCOUNT -51 -47
GOODS -145 -130
Exports, f.o.b. 210 229
Imports, f.o.b.  -355 -359
SERVICES -6 5
INCOME -14 -20
CURRENT TRANSFERS 114 98
CAPITAL ACCOUNT 0 1
FINANCIAL  ACCOUNT 26 139
Direct investment 38 29
Portfolio investment -1 -132
Other investment -11 242
ERRORS AND OMISSIONS 3 -2
OVERALL BALANCE -21 91
Source: Central bank    

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