Actual (Mar): CZK 16.8bn
Consensus: CZK 11.4bn
Previous (Feb): CZK 18.3bn
The March balance of the current account was positively influenced by the record-high foreign trade surplus that surged to CZK 28.3bn. That is why the good result of the C/A is not surprising. The balance of services posted a CZK 5.0bn surplus, which is in line with the previous readings. The income balance showed a CZK 15.5bn deficit, including a CZK 11bn dividend outflow. These figures are roughly the same as last month, too. Net FDIs were negative in March (CZK -4.9bn) and so was the balance of portfolio investment (CZK -9.2bn). This figure was influenced by higher purchases of foreign bonds.
The monthly data shows that the current account, similar to the trade balance, reached its highest surplus in the 1Q. It surpassed 49 billion.