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Usual surplus on the C/A balance in Q3

3.1.2017 10:39:00 | Autor/Izvor RBA analitičari

According to the preliminary CNB's data, the C/A surplus in Q3 2016 amounted to EUR 3,345 bn. Due to the historical high last year's basis, the recorded amount was lower by EUR 573 mn if compared to the same period in 2015 (-14.6% yoy).The latter is mostly result of diminishing CHF conversion effect and its impact on commercial bank's results. Therefore, on a rolling basis (over the last fourth quarters) the current and capital balance remained in a relatively huge surplus at 4.3% of GDP.
As expected, the main positive contributions to the C/A surplus in Q3 came from the services account (+10% yoy), mainly thanks to excellent results in tourism.Namely, in the same observed quarter, revenues from tourism reached almost EUR 5.5 bn (+9% yoy). Simultaneously, positive impact also came from secondary account which recorded surplus of EUR 296 mn (4% yoy), primarily as a result of better EU fund utilisation.

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