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HUNGARY C/A DEFICIT EUR 2.63 BN IN Q2

 

Hungary’s current account posted a deficit of 2.63 billion euros in the second quarter of 2022, edging up by 163 million euros from Q1 figures but jumping by 1.453 billion euros from the same period last year, the National Bank of Hungary (NBH) said in a release of preliminary data on Thursday. Hungary had a 925 billion euro trade deficit for the quarter, the balance of a 2.829 billion euro deficit in trade of goods and a 1.904 billion surplus in trade of services. The primary income balance had a 1.314 billion deficit as investors repatriated 1.464 billion from direct investments. Capital transfers from the European Union came to 874 million euros for the quarter. In Q2 Hungary’s seasonally adjusted net financing requirement amounted to 1.411 billion euros, equal to 3.4% of quarterly GDP. The trade balance showed a deficit of 2.366 billion euros, the difference between a deficit of 5.486 billion in trade of goods and a 3.120 billion surplus in trade of services. Capital transfers from the EU came to 2.822 billion euros for H1. Hungary’s current account deficit amounted to 6.426 billion euros in 2021.