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Country Report Hungary Product Image

Country Report Hungary

  • ID: 2101527
  • September 2014
  • Region: Hungary
  • 27 Pages
  • The Economist Intelligence Unit

In the second quarter of 2014 the unadjusted net external financing capacity-the surplus on the current and capital accounts-was down by 5% year on year but still relatively high, at EUR1.57bn (US$2bn), according to the National Bank of Hungary (NBH, the central bank).

Seasonally adjusted, the external surplus in the second quarter was down by 1% year on year, and amounted to 7.7% of GDP-roughly the same as in January-March, and broadly in line with levels seen throughout 2013.

The decline in the overall external surplus was driven partly by a fall in the surplus on trade in goods and services, by 4% year on year. This was caused by a 26% decrease in the surplus on trade in goods-the surplus on trade in services grew. The decline in the goods trade surplus was driven mainly by rising imports. Inflows from the EU also fell, by 6% year on year. These effects were partly countered by a lower net outflow of incomes, including on both direct and portfolio investments.

Country Report Hungary

External surplus shrinks slightly in second quarter
Impact on the forecast

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