ADVERTISEMENT

Trade surplus reaches EUR 382 mln in January

MNB

Pixabay

In euro terms, exports increased by 6.4% and imports grew by 9.7% in January 2019, compared to January 2018, shows a first estimate of monthly data for the external trade in goods from the Central Statistical Office (KSH).

The surplus was down by EUR 225 mln year-on-year, noted the KSH.

In absolute terms in January 2019, the value of exports amounted to EUR 8.993 billion, while imports totaled EUR 8.611 bln.

The share of European Union Member States was 82% in exports and 71% in imports.

Responding to the data announcement, Erste Bank analyst Orsolya Nyeste noted that the trade surplus continued to narrow in January as import growth outpaced export growth. She forecast that the full-year surplus could fall to EUR 4-4.5 bln for 2019, down from EUR 5.56 bln in 2018.

TakarékBank analyst Gergely Suppan argued that new export capacities inaugurated this year would counter, in part, the worsening growth outlook for Europe. He put the 2019 trade surplus at EUR 5.3 bln.

A second, more detailed estimate of data for the external trade in goods in January 2019 will be published on April 1.

Gov't to Present EU-wide Support Scheme for EV Purchases in ... Analysis

Gov't to Present EU-wide Support Scheme for EV Purchases in ...

Gov't to Call HUF 75 bln Tender to Support Innovation by SME... Government

Gov't to Call HUF 75 bln Tender to Support Innovation by SME...

Óbuda Uni Planning Technology and Innovation Park Innovation

Óbuda Uni Planning Technology and Innovation Park

White Raven Skybar, Laurent-Perrier Champagnes Enter Special... Drinks

White Raven Skybar, Laurent-Perrier Champagnes Enter Special...

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.