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HUNGARY: Current Account Rises to Record-High Surplus in Q1

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
  • Hungary's current account moved to surplus EUR 1.860bn in Q1 (Est: EUR 1.786bn) from a revised -EUR 593.6m in Q4, according to data released by the central bank this morning. That marks a record high for the series. The trade surplus reached EUR 3.411bn, including the balance of a EUR 1.262bn surplus in the trade of goods and a EUR 2.148bn surplus in the trade of services.
  • In its latest policy statement, the NBH noted that “The current account surplus will continue to rise over the forecast horizon, which is expected to reach 1.5–2.7 percent of GDP in 2024, before rising to 3–4 percent in 2025 and 2026.”
  • There are no other major data releases scheduled for today. Looking ahead, unemployment rate data (Est: 4.4%; Prior: 4.4%) and producer price data (Prior: -2.0% Y/Y) for May will cross Friday morning.
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  • Hungary's current account moved to surplus EUR 1.860bn in Q1 (Est: EUR 1.786bn) from a revised -EUR 593.6m in Q4, according to data released by the central bank this morning. That marks a record high for the series. The trade surplus reached EUR 3.411bn, including the balance of a EUR 1.262bn surplus in the trade of goods and a EUR 2.148bn surplus in the trade of services.
  • In its latest policy statement, the NBH noted that “The current account surplus will continue to rise over the forecast horizon, which is expected to reach 1.5–2.7 percent of GDP in 2024, before rising to 3–4 percent in 2025 and 2026.”
  • There are no other major data releases scheduled for today. Looking ahead, unemployment rate data (Est: 4.4%; Prior: 4.4%) and producer price data (Prior: -2.0% Y/Y) for May will cross Friday morning.