Hungary has €458 million trade surplus in July

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Hungary had a €457.5 million trade surplus in July, up from €404 million in the same month a year earlier, and down from €773 million in June, preliminary data published by the Central Statistics Office (KSH) on Thursday show. Exports rose 4.6% to €6.455 billion and imports climbed 4.0% to €5.998 billion.

Hungary's trade surplus for January-July reached €4.119 billion, dropping €166 million from €4.285 billion in the same period a year earlier. Seven-month exports were up 1.0% at €46.536 billion and imports rose 1.5% to €42.417 billion.

Exports and imports has risen in euro terms now for the third month in a row from a year earlier, and export growth outpaced import growth for the second month.

Exports declined yr/yr for three months between February and April and imports fell in March and April. The declines as well as returning growth partly reflected base effects. Import rose more or dropped less than exports did between last November and May.

KSH noted that the forint weakened 7.0% to the euro and weakened 24.3% to the US dollar in the twelve months to July, and weakened against both currencies in the first seven months.

In July, 77% of Hungary's exports went to the Euroean Union and 72% of imports came from EU member states, the report said.

KSH will publish a second reading of the data on October 2.

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