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Hungary net external financing capacity reaches €2.408 bln in Q3

Telco

Hungary's unadjusted net external financing capacity came to €2.408 bln in the third quarter, the National Bank of Hungary (MNB) reported today. Adjusted for seasonal effects, the net external financing capacity was €2.167 bln or 8.3% of GDP.

The combined balance of goods, one of the main aggregates of net external financing capacity calculated as the balance of the current and capital accounts, rose to €725mln in Q3 fromln €586mln in the previous quarter, according to seasonally-adjusted data. The surplus of services edged up to €1.143 bln and included a travel surplus of €694 mln.

The seasonally-adjusted primary income deficit came to €661mln in Q3, practically level with the previous quarter.

The deficit of the secondary income balance was €93 mln, narrowing fromln €131mln in Q2.

The surplus of transfers to and fromln the European Union amounted to €1.417 bln in Q3. The balance of primary income with the EU, including taxes and subsidies on production and products, showed a surplus of €255 mln. Current transfers to and fromln the EU, recorded under secondary income, amounted to €153 mln. Funds received fromln the EU, recorded as capital transfers, amounted to €1.010 bln.

Foreign direct investments by Hungarian residents rose by €586mln in Q3. The total included investments in equities of €932mln and reinvested earnings of €233 mln. Transactions in debt instruments showed a €579mln reduction of net assets.

FDI by non-residents rose by €1.086 bln. The total comprised a €1.311 bln increase in the value of investments in equities, including reinvested earnings of €1.014 bln. The balance of transactions in debt instruments showed a €1.239 bln decline in net liabilities.

Central bank foreign exchange reserves amounted to €35.7 bln at the end of September. Hungary's net foreign debt, excluding FDI debt instruments, came to €36.1 bln or 35.3% of GDP in the four quarters ending in Q3. Net short-termln assets, reflecting the recording of EU transfers on an accrual basis, amounted to negative €136 mln.

Hungary's current-account surplus came to €1.397 bln in Q3, up fromln €820mln in the previous quarter but down fromln €1.564 bln in the same period a year earlier.

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