The surplus on the current account of Slovakia's balance of payments continues to grow. According to revised data of the Slovak central bank -National Bank of Slovakia (NBS) - it soared more than €350 million to a cumulative €1.241 billion at the end of May of this year.
The driving force behind the current account's surplus was the trade balance, posting a five month surplus of €1.919 billion. The balance of services was positive €99.4 million, the SITA newswire quoted the NBS. The balance of receipts ended in May with a gap of €630.8 million and the balance of the current transfers was negative €146.3 million.
The capital and financial accounts were in a mild deficit of €0.3 million as of late May. The surplus in the capital account was €410.2 million while the financial account was €410.5 million in the red. In errors and omissions, the central bank registered a negative balance of €1.261 billion after five months. The overall balance of payments of Slovakia posted a modest deficit of €19.5 million at the end of the fifth month. Within the financial account, the highest surplus was recorded by portfolio investments of €4.654 billion while there was also a surplus in direct investments of €1.269 billion. Direct investments in Slovakia posted a surplus of €1.338 billion. Financial derivatives posted a positive balance of €28.3 million in late May. Other investments were €6.361 billion in the red.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
4. Sep 2012 at 14:00