EUR 715 Mn Current-Account Surplus in March

Hungary's current account had a EUR 715 million surplus in March, widening from a EUR 125 million surplus in the previous month, preliminary monthly data released by the National Bank of Hungary (NBH) on Friday show.

The trade surplus reached EUR 1.073 billion, as the balances for both trade in goods and services showed surpluses of EUR 250 million and EUR 824 million, respectively.

The primary income balance had a deficit of EUR 348 million as investors repatriated EUR 573 million from investments and remittances reached EUR 281 million.

In the capital account, capital transfers from the European Union reached EUR 120 million for the month.

An amalgamation of the monthly data shows the first-quarter current account surplus reached EUR 382 million.

The trade surplus came to EUR 2.037 billion for the quarter, as trade in goods showed a deficit of EUR 466 million, but trade in services had a surplus of EUR 2.503 billion.

The primary income balance had a deficit of EUR 1.300 billion. Profit repatriation reached EUR 1.748 billion and remittances came to EUR 853 million.