SLOVAKIA’S current account balance of payments showed surplus again in May. According to the preliminary data of the National Bank of Slovakia (NBS) the balance was €149 million in the black, compared to the revised April surplus of €57 million. During the first five months of the year, the cumulative current account balance of payments reached €699 million, the SITA newswire reported on July 29.

The driving force of the current account surplus was again the trade balance. In May, it was positive at €467 million, up by nearly €160 million compared to April. The trade balance surplus thus increased despite the ongoing year-on-year drop in exports. Imports slightly declined, too. The exports dropped by 2.7 percent y/y to €5.512 billion in May, while imports dropped by 0.1 percent y/y to €5.047 billion, NBS data showed.

Regarding the remaining components of the current account, only balance of services was positive at just €15 million, which is by €19 million more than last year. The deficit of receipts moderately shrank from €210 million in April to €199 million in May. On the other hand, the balance of current transfers posted a worse result by €98 million and was negative at €134 million, as reported by SITA

Source: SITA

Compiled by Radka Minarechová from press reports

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