BRATISLAVA, January 31, (WEBNOVINY) – Updated data of the National Bank of Slovakia show that the deficit on Slovakia’s current account deepened to EUR 1.741 billion at the end of October. In late September the gap was EUR 1.539 billion. All components of the current account but the trade balance contributed to the ten-month deficit. The trade balance surplus in the tenth month was EUR 412.4 million. The balance of receipts was negative EUR 1.031 billion. The balance of services posted a gap of EUR 715.7 million, while the balance of current transfers was in a deficit of EUR 406.8 million.
Compared with the same period of 2009, the trade balance development deteriorated. After ten months of last year, its surplus shrank by EUR 721 million from the same period a year ago. The balance of receipts worsened by EUR 87.7 million. On the other hand, the balance of services deficit improved by EUR 296 million. The balance of current transfers also developed more positively compared with last year; its ten-month deficit being EUR 69.5 million lower than last year.
The surplus on the capital and financial account of the balance of payments was EUR 470.5 million at the end of October 2010. The surplus on the capital account was EUR 708.3 million. In contrast, the financial account reached a deficit of EUR 237.9 million. After inclusion of errors and omissions representing a surplus of EUR 1.268 billion, the overall balance of payments of the Slovak Republic found itself in deficit of EUR 2.6 million in late October of last year.
Behind the almost EUR 240 million deficit on the financial account was in particular the EUR 1.105 billion deficit of the balance of portfolio investments. Direct investments posted a deficit of EUR 195.4 million while financial derivatives ended up in a deficit of EUR 43.2 million. On the other hand, other investments recorded a surplus of EUR 1.106 billion.
SITA
