BRATISLAVA, February 2, (WEBNOVINY) — Slovakia’s current account of the balance of payments continued to post a surplus in November, though a lower one than in the previous month. Based on preliminary data released by the National Bank of Slovakia, the current account posted a surplus of EUR 167.6 million in November 2011 compared to EUR 307.7 million. A year ago, the current account of the balance of payments reported the deficit of EUR 2.6 million.
„The month-on-month decrease in the surplus is attributable mainly to a sinking trade balance surplus,” the central bank reported. In November, the trade balance surplus represented EUR 327.5 million compared to EUR 588.8 million reported in October. Higher receipts from the EU funds within the balance of current transfers and a slightly improved balance of services softened the month-on-month decrease in the current account surplus. Current transfers posted a deficit of EUR 36.5 million compared to EUR 104.7 million reported in October. Balance of services improved from October’s deficit of EUR 38.9 million to a surplus of EUR 18 million in November. Balance of receipts ended up roughly at the same level as in October, with a deficit of EUR 141.4 million.
The dynamics of exports slowed down in November 2011. Compared to 2010, exports grew 7.5 percent, which was a 2.5-percentage point slowdown in monthly terms. The central bank admitted that in November the dynamics of exports fell to a one-digit figure for the first time in 2011. Imports accelerated, going up by 3.5 y/y and m/m.
SITA
