Trade surplus of €804 million for Hungary in November
Today’s release of figures from the Central Statistics Office (KSH) focuses on the import/export market; the numbers show a 0.8% year-on-year increase in exports combined with a 2.6% decline in imports for an overall trade surplus of €804 million through November 2013.
The trade surplus represents an uptick of €237 million from the 11-month period in 2012.
According to KSH’s preliminary figures, exports amounted to €7.4 billion (HUF 2.201 trillion), while imports to €6.5 billion (HUF 1.959 trillion).
Despite the government’s much-ballyhooed Eastward-facing import/export strategy, exports and imports to European Union markets actually increased month-on-month: Exports to the EU made up 78% of the proportion and imports from the EU represented 75% of the total in November; the ratios were 77% and 72%, respectively, in October.
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