Slovakia’s current account swings to EUR 79mn deficit in August

By bne IntelliNews October 29, 2014

Slovakia's current account swung to a deficit of EUR 79mn in August from a surplus of EUR 98mn in July, preliminary data from the central bank showed. The July current account figure was revised from an initially reported surplus of EUR 94mn.

In August 2013, Slovakia reported a current account surplus of EUR 30mn.

The foreign trade surplus shrank to EUR 235mn in August from a revised EUR 415mn the month before. On an annual basis, exports dropped 2.4% in August, following a 3.2% increase in July, while imports fell 3.1% compared to a 2.7% decline a month earlier.

EUR mn Aug-14 July-14 Aug-13 2013
Trade balance 235 415 214 4,284
--exports 4,679 5,136 4,814 64,172
--imports 4,446 4,723 4,600 59,172
----exports, y/y change, % -2.4% 3.2% -1.7% 3.3%
----imports, y/y change, % -3.1% -2.7% -5.5% 2.3%
Balance of services -12 20 67 148
Income balance -208 -210 -138 -1,810
Current transfers -95 -126 -112 -1,073
CURRENT ACCOUNT BALANCE -79 98 30 1,548
Source: National Bank of Slovakia      

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