Slovakia’s current account swung into a surplus of EUR 1mn in January 2014 from a revised deficit of EUR 353mn in December thanks to a surplus on the trade balance and the balance of services, preliminary data from the central bank showed.
In annual terms, the current account surplus shrank by 98.5%. The December current account figure was revised up from an initially reported deficit of EUR 334mn.
The trade balance produced a surplus of EUR 324mn in January versus a revised deficit of EUR 51mn in December with imports rising faster than exports. On an annual basis, exports increased 8.3% in January, following a revised hike of 7.9% in December, whereas imports increased 9.9% compared to a revised 11.1% rise a month earlier.
| EUR mn | Jan-14 | Dec-13 | Jan-13 | 2013 | m/m | y/y |
| Trade balance | 324 | -51 | 372 | 4,284 | -735.3% | -12.9% |
| --exports | 5,229 | 4,673 | 4,835 | 64,361 | 11.9% | 8.1% |
| --imports | 4,904 | 4,724 | 4,460 | 60,077 | 3.8% | 10.0% |
| ----exports, y/y change, % | 8.3% | 7.9% | 8.8% | 3.6% | ||
| ----imports, y/y change, % | 9.9% | 11.1% | 6.1% | 2.5% | ||
| Balance of services | 16 | 7 | 2 | 148 | 128.6% | 700.0% |
| Income balance | -205 | -207 | -142 | -1,810 | -1.0% | 44.4% |
| Current transfers | -133 | -102 | -169 | -1,073 | 30.4% | -21.3% |
| CURRENT ACCOUNT BALANCE | 1 | -353 | 66 | 1,548 | -100.3% | -98.5% |
| Source: National Bank of Slovakia | ||||||
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