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External trade surplus drops to EUR 881 mln in Feb

Hungaryʼs external trade surplus decreased by EUR 86 million to EUR 881 mln in February, as compared to the same month a year earlier, the Central Statistical Office (KSH) said today in a second estimate of data.

The export volume increased by 2.5% and the import volume by 3.7%, while on the basis of calendar adjusted data, the export volume increased by 6.1% and the import volume by 7.5% in February, compared to the same period of the previous year.

The value of exports increased by 5.5% to EUR 8.1 billion and that of imports by 7.5% to EUR 7.3 bln.

The forint price level of external trade in goods increased by 2% in exports and by 2.8% in imports. The terms of trade worsened by 0.8%. The forint exchange rate appreciated by 0.5% against the euro and depreciated by 3.7% against the dollar, KSH added.

The volume of exports to EU member states increased by 1.9% and imports from these countries by 1.5%, KSH reported. The surplus on trade with EU member states increased by EUR 49 mln and amounted to EUR 913 mln, while the share of the trade with these countries was 79% in exports and 76% in imports, KSH added.

In extra-EU trade, the volume of exports increased by 4.9% and that of imports by 11.6% in February. The trade balance with this group of countries worsened by EUR 135 mln and showed a deficit of EUR 31 mln, according to KSH.

In January-February, the volume of exports was up by 6.4% and that of imports by 6.8%, as compared to the same period in 2016. The value of exports amounted to EUR 15.8 bln and that of imports to EUR 14.3 bln. The surplus on the trade balance decreased by EUR 70 mln and amounted to EUR 1.5 bln.

The forint price level of external trade in goods increased by 1.6% in exports and by 2.8% in imports, according to KSH. The terms of trade worsened by 1.2%, the forint exchange rate appreciated by 1.2% against the euro and depreciated by 2.1% against the dollar, KSH added.