MNB: the balance of payments surplus continued to grow

By: Trademagazin Date: 2023. 08. 21. 12:06

The current account surplus increased by EUR 152 million from EUR 396 million in May to EUR 547 million in June, according to the latest preliminary data of the Magyar Nemzeti Bank (MNB).

As a result of the increase of 510 million euros in export earnings and 110 million euros in import payments, the foreign trade assets linked to real economic processes increased by 400 million euros to 1.702 billion euros, of which 389 million euros came from the merchandise turnover surplus.

At the same time, the net outflow of primary incomes increased by 223 million euros compared to May to June, but barely 5 million euros of this increase came from profits repatriated from direct foreign direct capital investments, while the outflow of returns from portfolio investments was 246 million euros higher than in May.

The asset of the capital balance in June was EUR 59 million lower than the previous month, most of which, EUR 56 million, resulted from the decrease in capital transfers received from the European Union.