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Trade surplus up €118 million y.o.y.; 80% of exports to EU

Telco

The Central Statistics Office (KSH) reported another good month for Hungary’s trade balance in February, though the government’s much-touted “East-facing” import/export strategy took something of a hit: The trade surplus rose €118 million year-on-year, with the share of exports to EU member states a big 80%. 

According to KSH, exports and imports increased year-on-year by 5.0% and 3.5%, respectively, in February 2014. Total exports amounted to €6.9 billion (HUF 2.12 trillion), while imports to €6.1 billion (HUF 1.883 trillion). The surplus on the trade balance was €766 million (HUF 238 billion) in the second month of the year. 

The share of European Union member states was figured at 80% for exports and 77% for imports in February.

For the first two months of 2014 cumulative, the value of exports was €13.5 billion (HUF 4.118 trillion), while that of imports was €12.2 billion (HUF 3.734 trillion) according to preliminary data.

Exports and imports in euro terms grew by 4.0% and 1.6%, respectively. The surplus on the trade balance grew €327 million year-on-year.

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