Hungary June trade surplus revised down to EUR 1.02 bln

MNB

The Central Statistical Office (KSH) revised Hungaryʼs June trade surplus to EUR 1.02 billion in a second reading of data released Friday, down from EUR 1.07 bln in the first reading published on August 9.

Imports rose 8% year-on-year to EUR 8.543 bln. Exports were up 9.1% at EUR 9.568 bln. The trade surplus was up EUR 165 million from the same month a year earlier.

Imports of machinery and transport equipment rose 8.2% in June in volume terms. Food, drink and tobacco imports were up 3.8%, while energy imports fell 4% from a year earlier. Imports of manufactured goods increased 7.3%.

Exports of machinery and transport equipment rose 11%, food, drinks and tobacco exports dropped 2.5%, energy exports were down 7.9%, and exports of manufactured goods were up 9.2%.

Trade with other European Union member states accounted for 81% of Hungaryʼs exports and 76% of the countryʼs imports. Hungary had a trade surplus of EUR 1.246 bln with EU countries and a deficit of EUR 222 mln with the rest of the world. 

Hungaryʼs terms of trade deteriorated 1.1% in June as import prices were up 5.8% and export prices rose 4.6% in forint terms. The forint weakened 4.7% to the euro and 0.7% to the dollar in the period.

In January-June, Hungaryʼs trade surplus reached EUR 4.220 bln, down from EUR 4.618 bln a year earlier. Imports were up 6.2% at EUR 49.159 bln, while exports rose 4.8% to EUR 53.379 bln.

A first estimate of data for the external trade in goods in July 2018 will be published by the KSH on September 7.

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