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