Jun’20 current account still positive; H1’20 FDIs turn negative

18.08.2020 Source: BNB; FFBH

Jun’20 current account balance was positive and amounted to EUR 159.9m, which corresponds to a 75.5% YoY slump. H1’20 surplus amounted to EUR 0.8bn (1.4% of GDPe*), representing a 12.5% YoY increase. Total exports (22.9%og GDPe) for the first half of 2020 fell 7.5% YoY to EUR 13.0bn, while imports during the same period (23.3% of GDPe) lost 11.9% YoY to EUR 13.2bn. The result was a EUR 225.5m trade deficit (0.4% of GDP; deficit tumbled 76.2% YoY). Services recorded a surplus of EUR 0.8bn, down by 39.2% YoY. H1’20 capital account closed at a EUR 474.8m surplus (+10.1% YoY), while the financial account was positive at EUR 1.7bn (+82.0% YoY). June FDIs amounted to EUR 48.3m bringing YTD FDIs to EUR 263m vs EUR 391.3m in H1’19. *exp. 2020 GDP of EUR 56.8bn and 2019 GDP of EUR 60.7 bn.