According to the monthly balance of payments data released by the National Bank of Hungary (MNB) on Monday, the country’s balance of payments with foreign countries turned positive in February.
The combined balance of the current account and the capital account turned to a surplus of EUR 317 million in February, according to preliminary data, compared to a deficit of EUR 145 million in January, resulting in a surplus of EUR 172 million after the first two months.
The capital account surplus decreased from EUR 313 million in January to EUR 192 million in February, totaling EUR 505 million over the two-month period.
The current account deficit of EUR 458 million in January was reduced by a surplus of EUR 125 million in February, resulting in a two-month deficit of EUR 333 million. The biggest factor in this was the decline in the goods trade deficit from EUR 645 million in January to EUR 75 million in February, while the surplus in foreign trade in services rose from EUR 836 million to EUR 844 million.
Income from investments flowed out of the country at a steady rate of EUR 856 million and EUR 850 million in January and February, respectively, while net income from labor earnings amounted to EUR 285 million and EUR 289 million.
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