Hungary’s net external financing capacity at 5% of GDP in Q1

pexels

Adjusted for seasonal effects, Hungaryʼs net external financing capacity - the combined surplus of the current and capital accounts - was EUR 1.352 billion or 5% of quarterly GDP in the first quarter, preliminary balance of payment data published today by the National Bank of Hungary (MNB) show, according to state news agency MTI.

The adjusted Q1 surplus was down EUR 51 million from the fourth quarter of 2016, and dropped nearly EUR 300 mln from a year earlier. The drop in both came from a shrinking trade surplus that reflected a smaller surplus in the trade of goods that was only partly offset by a rising surplus in services.

The capital account had a seasonally adjusted EUR 228 mln surplus, compared to deficits in both Q3 and Q4 2016, and a EUR 203 mln surplus one year earlier.

EU transfers, at EUR 242 mln, were down sharply from EUR 426 mln in the fourth quarter, but up EUR 19 mln year-on-year.

The unadjusted net external financing capacity came to EUR 1.358 bln in the first quarter, down EUR 378 mln from the first quarter of 2016.

In Hungary

2024 National Gallop to Feature Int’l Police Horse Race

Office Market

Market Talk: How ESG is Shaping Real Estate

Logistics

Waberer’s Unit Wins Magyar Posta Logistics Base Tender

Weather

Karácsony: Budapest Companies, Institutions Ready to Protect Capital From Flood

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.