Hungary Q4 Current Account Surplus Shrinks

Hungary Q4 Current Account Surplus Shrinks

24 March 2016, 10:34
Roberto Jacobs
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Hungary Q4 Current Account Surplus Shrinks

Hungary's current account surplus decreased more-than-expected in the three months ended December, figures from the Magyar Nemzeti Bank showed Thursday.

The current account surplus shrank to EUR 1.01 billion in the fourth quarter from EUR 1.49 billion in the previous quarter. Economists had expected the surplus to fall to EUR 1.07 billion.

In the corresponding month last year, the surplus was only EUR 185 million.

The goods and services trade surplus dropped to EUR 1.99 billion in the December quarter from EUR 2.7 billion in the third quarter.

At the same time, the capital account surplus grew notably to EUR 2.16 billion in the fourth quarter from EUR 0.67 billion in the previous three-month period. Similarly, the financial account surplus rose to EUR 2.84 billion from EUR 1.98 billion.

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