Slovakia’s current account swings to EUR 1mn surplus in January 2014

By bne IntelliNews March 26, 2014

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          

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Slovak celebration of decent grain harvest marred by sheep’s milk protest

Slovakia’s grain harvest is this year likely to amount to 2.5mn tonnes, 20% down year on year, but comfortably enough to cover domestic needs and leave a million tonnes for export, SITA newswire ... more

Central European and Baltic economies shrugging off political uncertainty

Medium-term economic growth forecasts for Central Europe and the Baltics have been raised by The Vienna Institute for International Economic Studies (wiiw) in a report issued on June 29. The most ... more

Dismiss