The export-import balance in August improved both for goods and services

The current account surplus in the balance of payments was preserved in August and the goods and services balance improved as a result of increase in exports. The exports of services remained close to the July level, whereas the imports of services decreased a little. The current transfer account balance was also positive, mainly due to the EU funding received by the government. As a result, the current account would remain positive even without an impact from the income account, which is unrelated to foreign trade.

A current account surplus is expected also in the future, yet important oscillations are possible depending on the losses by direct investment businesses, which are reflected in the positive income account.  The more positive outlook voiced by entrepreneurs in September makes room for expectations for continued increases in the exports of goods and services and an improved export-import ratio, with imports remaining at a low level.