Hungary had a current account surplus of €787m and net external financing capacity – a positive combined balance of the current account and the capital account – of €1.272 billion in Q1 2010, unadjusted figures published by the National Bank of Hungary (MNB) on Thursday show.
Both the current account surplus and external financing capacity increased new peaks, widening sharply from the downward revised Q4 2010 figures and also increasing from a year earlier.
After adjusting for seasonal effects, Hungary’s net external financing capacity was €1.161 billion or 4.6% of GDP in Q1 2011, up from a slightly downward revised €1.079 billion in Q4 last year and up from €907m a year earlier.
Hungary’s external financing position as well as its c/a balance has been in surplus since Q2 2009.
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