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August trade surplus revised up to EUR 60 mln

MNB

The Central Statistical Office (KSH) revised Hungaryʼs August trade surplus to EUR 60 million in a second reading of data on Thursday, up from EUR 37 mln in the first reading published on October 9.

The trade balance thus improved by EUR 122 mln from August 2018.

Exports were up 2.7% at EUR 8.153 billion in August, while imports rose 1.2% to EUR 8.093 bln.

In volume terms in August, exports were up by 3.3%, while imports rose by 2.9% compared to the same month of the previous year.

According to calendar-adjusted data, export volume rose by 7.8% and import volume by 6.1%.

Exports of machinery and transport equipment reached EUR 4.636 bln, exports of manufactured goods came to EUR 2.502 bln, and exports of food, drink and tobacco products reached EUR 596 mln.

Calculated at prices in August 2018, exports of machinery and transport equipment rose by 7.5%, and their imports by 7.6%.

The export volume of manufactured goods decreased by 2.3%, and their import volume by 3.9%. The volume of exports of food, beverages and tobacco was down by 2.5%, and the volume of their imports by 3.4%.

The volume of exports to EU Member States grew by 3.2% in August, while the volume of imports from these countries rose by 2.2%. These countries accounted for 80% of exports and 73% of imports.

In extra-EU trade, the volume of exports increased by 3.7% and that of imports by 5.2%.

EUR 3.35 bln surplus in January-August

Hungaryʼs trade surplus for January-August came to EUR 3.349 bln, some EUR 954 mln less than in the corresponding eight-month period of 2018. Exports rose 3.7% to EUR 72.236 bln during the period. Imports were up 5.4% at EUR 68.887 bln.

Hungary had a EUR 8.438 bln trade surplus with Europe in January-August, but a EUR 6.904 bln deficit with Asian countries, including a EUR 3.088 bln deficit with China.

A first estimate of data for the external trade in goods in September 2019 will be published on November 11, with a second, more detailed reading to follow on December 2.

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