Hungary June trade surplus revised down to EUR 1.02 bln
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.
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.