EUR 1.691 bln Trade Surplus an All-time High
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Hungary had a EUR 1.691 billion trade surplus in February, widening from EUR 583 million in January, according to a second reading of data released by the Central Statistical Office this week.
This marked the second consecutive month of a trade surplus and was the highest reading since records began in 1999, as exports declined less than imports.
Exports edged down 1.5% year-on-year to EUR 12.68 bln. Imports dropped 11% to EUR 10.989 bln. Trade with other European Union member states accounted for 77% of Hungary's exports and 72% of its monthly imports. Hungary's terms of trade improved by 2% during the period as the forint weakened 0.8% against the euro and 0.1% to the dollar.
For January-February, Hungary had a trade surplus of EUR 2.273 bln. Exports fell 4.1% to EUR 24.185 bln, and imports declined 12.7% to EUR 21.912 bln.
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