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.
|----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%|
|CURRENT ACCOUNT BALANCE||1||-353||66||1,548||-100.3%||-98.5%|
|Source: National Bank of Slovakia|
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