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Trade surplus for ’13 on automotive, chemical revival

Telco

Figures for December 2013 released by the Central Statistics Office (KSH) today show that the volume of exports was up 14%, while that of imports was 13% more in external trade in goods than in the same month of the previous year. For the year, export and import volumes increased by 4.8% and 5.0%, respectively, year-on-year.

In December 2013, exports totaled €5.9 billion (HUF 1.780 trillion), while imports to €5.6 billion (HUF 1.689 trillion), for external trade surplus of €303 million for December.

For 2013, the value of exports was €81.7 billion (HUF 24.244 trillion), while that of imports was €74.7 billion (HUF 22.154 trillion). The surplus on the trade balance amounted to €7.0 billion (HUF 2.090 trillion), which was €354 million (HUF 168 billion) more than in the same period of the previous year.

KSH – and subsequently national news service MTI – gave automotive industry-related commodity groups credit as “the driving force for the increase.” Trade of road vehicles grew by 20% and imports of power-generating machinery and equipment increased 10% year-on-year.

The revival of external demand for product from Hungary’s automotive and chemical industries was, according to KSH analysts, “perceived first of all in the growth in the trade of rubber materials and plastic materials in primary forms as well as the two digit increase in the exports of organic chemicals.”

In contrast to automotive sector’s success was the performance of the telecommunications and sound recording/reproducing equipment subsector: KSH reported the continuation of several years’ worth of decline, with a 20% decrease year-on-year in exports.

In 2013, the share of exports to European Union member states was 77%; in imports from, 72%. Trade volume grew by 4.2% and 5.5%, respectively.

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