Hungary March trade surplus revised down to EUR 644 mln
Hungary had a EUR 644 million trade surplus in March, the Central Statistical Office (KSH) said in a second reading of data on Friday, according to state news wire MTI.
The surplus was revised downward from EUR 677 mln in a first reading released on May 9.
Imports rose 5.9% year-on-year to EUR 9.029 billion. Exports were up 4.9% at EUR 9.673 bln.
The trade surplus narrowed by EUR 54 mln from the same month a year earlier.
Imports of machinery and transport equipment rose 8.2% in volume terms and food, drink and tobacco imports were up 3.2% while energy imports dropped 12.0%. Imports of manufactured goods were up 3.6%.
Exports of machinery and transport equipment rose 3.5%, food, drinks and tobacco exports increased 11.0%, energy exports decreased by 4.1% and exports of manufactured goods were up 3.4%.
Trade with other European Union member states accounted for 82% of Hungaryʼs exports and 75% of the countryʼs imports.
Hungary had a trade surplus of EUR 1.2 bln with EU countries and a trade deficit of EUR 520 mln with the rest of the world.
Hungaryʼs terms of trade worsened by 0.4% in March as import prices rose 2.5% and export prices by only 2.1% in forint terms. The forint weakened 1.1% to the euro and 10% to the dollar in the period.
For the period January-March, Hungaryʼs trade surplus reached EUR 1.853 bln, down from EUR 2.147 bln in the same period a year earlier. Imports were up 7.6% at EUR 25.883 bln and exports rose 5.9% to EUR 27.736 bln.
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.