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

Explosion at Austrian gas hub interrupts supplies to Italy, Hungary and Slovenia

An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more

CEFC and Penta reported to be bidding together for CME

CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more

Slovak and Czech oligarchs reportedly interested in buying CME from Time Warner

A group of Slovak and Czech oligarchs are reportedly interested in buying regional media and entertainment company Central European Media Enterprises, the Slovak Spectator reported on November 8. ... more

Dismiss