Net external financing capacity down sharply in Q3

MNB

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Hungaryʼs net external financing capacity - the combined surplus of the current and capital accounts - reached EUR 1.103 billion in the third quarter, the National Bank of Hungary (MNB) said on Thursday, as reported by state news agency MTI.

Adjusted for seasonal effects, the net external financing capacity came to EUR 1.372 bln, equivalent to 4.4% of quarterly GDP, noted MTI.

The unadjusted net external financing capacity was down sharply from EUR 2.896 bln in Q2, and from EUR 1.358 bln in Q1.

The current account surplus reached EUR 806 million in Q3, falling from EUR 1.868 bln in the previous quarter. The trade surplus reached EUR 2.236 bln, while the net primary income deficit came to EUR 1.192 bln.

The Q3 capital account surplus stood at EUR 297 mln. The balance included EUR 376 mln of European Union transfers.

The financial account had a surplus of EUR 171 mln. Outward FDI rose by EUR 569 mln and inward FDI by EUR 1.309 bln.

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