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MNB: Hungaryʼs April c/a surplus halves

Crops

The current account surplus came to €493 mln in April, halving from the previous month’s €955 mln, with external financing capacity – the combined balance of the current and capital accounts – coming to a surplus of €750 mln, €638 mln down from March, preliminary figures from the National Bank of Hungary (MNB) published today reveal.

The April trade surplus in the current account fell by €292 mln from a month earlier to €803 mln, MNB said, adding that the trade balance of goods was less than half of its March level, falling €380 mln to €346 mln, while surplus from service trade rose €88 mln to €456 mln, including a net tourism surplus of €277 mln, up €92 mln from March.

Data from the central bank suggest that income outflow due to foreign investors was €495 mln in April, some €26 mln more than in the preceding month, including €331 mln profit repatriation on FDI, up by €45 mln.

Considering capital account, net inflow of direct investments worth €630 mln in March turned to €325 mln outflow in April, MNB’s data reveal. The central bank suggests this to be the result of net equity investments inflow of €132 mln, and net outflow of debt instruments in the amount of €458 mln as opposed to inflow of €1.077 bln in March. Capital inflow in EU transfers in April was less than two-thirds of the previous monthʼs, at €258 mln as compared to €434 mln in March, preliminary MNB figures show.

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