Macedonias CA deficit narrows 53.6% y/y in January 2012.

By bne IntelliNews April 12, 2012
The CA balance was a deficit of EUR 43mn in January, compared to a surplus of EUR 45.5mn in December and a deficit of EUR 92.7mn in January 2011, according preliminary data of the central bank. The annual improvement in the CA deficit reflects a narrower trade deficit, an increase in the current transfers and a small improvement in the income account. On the other hand, the services account balance turned negative in January, reversing a net inflow a year earlier. The trade deficit decreased by 24.8% on the year to EUR 145.3mn in January, as exports dropped by 6% y/y to EUR 208.9mn and imports contracted by 14.8% y/y to EUR 354.2mn. Current transfers increased by 18.5% on the year to EUR 113.6mn in the first month of 2012.
Balance of payments, EURmn
Jan-11 Jan-12
CURRENT ACCOUNT -92.7 -43.0
GOODS -193.3 -145.3
Exports, f.o.b. 222.2 208.9
Imports, f.o.b. -415.5 -354.2
SERVICES 14.1 -4.5
INCOME -9.5 -6.9
CURRENT TRANSFERS 95.9 113.6
CAPITAL ACCOUNT 7.8 0.1
FINANCIAL ACCOUNT 107.3 47.1
Direct investment 46.6 33.9
Portfolio investment 0.2 0.2
Other investment 60.4 13.1
ERRORS AND OMISSIONS -3.9 -25.3
OVERALL BALANCE 18.4 -21.2
Source: Central bank, prelim. data

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