UPDATE - Hungary current account surplus reaches €738m in Q2


Hungary had a current account surplus of €738m in the second quarter, the National Bank of Hungary (MNB) said on Friday in its quarterly balance of payments report.

The preliminary unadjusted figure was up from a surplus of €385m in Q1. The MNB revised the Q1 surplus from €787m in the previous balance of payments report.

Seasonally-adjusted data show the Q2 surplus at €606m, up from €506m in Q1.

Hungary's net external financing capacity -- the combined surplus on the country's current and capital accounts -- came to €1.070bn in Q2. Adjusted for seasonal effects, the external financing capacity was 3.3% of GDP.

The combined surplus of trade of goods and services continued to rise in Q2, according to both unadjusted and adjusted figures, and still exceeded the deficit on income transfers, as has been the case since Q2 2009.

Seasonally-adjusted export revenue and import expenditures fell from the previous quarter, the MNB said.

The central bank noted that revisions of data on trade in goods and travel by the Central Statistics Office (KSH) affected the balance of payments data, knocking the equivalent of 1.6% of GDP off the current account balance for Q1 2011 and 1.0% off the balance for the full year of 2010.


CIG Pannónia Board Proposes HUF 18-per-share Dividend Figures

CIG Pannónia Board Proposes HUF 18-per-share Dividend

Hungarian Lawmakers Ratify Finland's NATO Accession Parliament

Hungarian Lawmakers Ratify Finland's NATO Accession

IBS Reaches 50-50% Gender Ratio in Management HR

IBS Reaches 50-50% Gender Ratio in Management

Sümeg Castle Reopens History

Sümeg Castle Reopens


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.