Hungary export growth slows, import picks up in November
Import growth picked up to exceed slowing export growth in November 2011, with Hungary registering a €666m trade surplus in the month, the Central Statistics Office (KSH) said on Monday.
The November surplus widened from €490.3m in October but fell from an €769m surplus a year earlier.
Exports rose 3.9% yr/yr in euro terms to €7.384bn and imports rose 6.0% to €6.718bn in November.
Twelve-month euro-term export growth slowed from 5.2% in October while the pace of twelve-month import growth accelerated from 4.0% in the previous month. Import growth outpaced exports any significantly for the first time since June.
Trade expanded at double-digit paces in euro terms up to May 2011, the increase slowed considerably in June and July, picked up in August before slowing again in September-October.
Hungary registered a €6.607bn surplus in January-November 2011, €1.506bn more than in the same period a year earlier. Eleven-month exports rose 12.8% to €73.892bn. Imports in the period were up 11.4% at €67.285bn.
Other European Union member states had a 76% share in Hungary’s exports and a 69% share in its imports in November.
KSH will publish a second reading of the data on February 1.
ADVERTISEMENT
POPIHN Raises Forecast for Fuel Consumption
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
