Actual (Sep): CZK 5.2bn
Consensus: CZK -18.3bn
Previous (Aug): CZK -33.7bn
The current account of balance of payments posted a surprising surplus, while another big deficit was expected. Volatility of the C/A is very high and mostly the income balance is behind. Dividend outflows shrank to CZK 7.4bn in October from CZK 39bn in the month before. Thus, the income balance has improved significantly, showing a CZK 15.8bn deficit.
Also foreign trade contributed strongly to the good C/A result. A 14.4bn surplus was reached in trade with goods; a CZK 6.5bn surplus in trade with services. The flows of current transfers were balanced in October.
On the financial account, we can see net FDIs improving to CZK 4.9bn from CZK -4.1bn. There was also an inflow of funds from portfolio investments. On the other hand, outflow connected with bank´s short-term positions was large.