External financing capacity doubles in Q4

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Hungary’s net external financing capacity came to €2.046 billion in the fourth quarter, nearly double the amount in the same period a year earlier, a first reading of data published by the National Bank of Hungary (MNB) on Monday shows.

Adjusted for seasonal effects, the net external financing capacity came to €1.938 billion.

The unadjusted data show the current-account surplus reached €637 million and the capital account surplus came to €1.408 billion, all of it European Union transfers. The seasonally-adjusted data show a current-account surplus of €879 million and a capital account surplus of €1.420 billion.

A breakdown of the current-account data shows an unadjusted €1.021 billion surplus in trade of goods and a €612 million surplus in trade of services. Adjusted for seasonal effects, the goods surplus came to €1.086 billion, reflecting a decline in exports and an increase in imports, and the services surplus reached €823 million.

The “direct investment abroad” line of the financial account shows outflow of €2.160 billion, including €1.577 billion in equity increases and €278 million in reinvested earnings. The “direct investment in Hungary” line shows inflow of €3.891 billion, including €2.002 billion in equity increases and €1.377 billion in reinvested earnings.

Portfolio investments registered total inflow of €1.384 billion.

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