Trade surplus at EUR 838 mln in February
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In euro terms, exports increased by 5.0% and imports by 4.5% in February 2018 compared to the same month of the previous year. The trade surplus was up by EUR 72 million year-on-year, according to a first estimate of monthly data for the external trade in goods from the Central Statistical Office (KSH).
In February 2018, the value of exports amounted to EUR 8.52 bln (HUF 2.65 trillion), and that of imports to EUR 7.68 bln (HUF 2.39 tln). The trade surplus was thus EUR 838 mln (HUF 261 bln).
The share of European Union Member States was 81% in exports and 79% in imports.
In February 2018 compared to a year earlier, exports increased by 5.0% and imports by 4.5% in euro terms.
In the first two months of the year, exports were up by 7.5% and imports by 6.8% compared to January-February 2017.
Cited by state news agency MTI, TakarékBank analyst Gergely Suppan said the trade data exceeded expectations, but projected the full-year surplus would fall by about EUR 200 mln to EUR 7.88 bln this year, impacting GDP to a lesser degree than in 2017.
Erste Bank chief analyst Orsolya Nyeste said the February data were a positive surprise, but added that import growth would likely exceed export growth from the second quarter of the year, causing the full-year surplus to fall.
A second, more detailed estimate of the external trade in goods in February 2018 will be published on May 3.
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