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Hungary Trade Surplus Widens to EUR 665 mln in August

Trade

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Hungary's trade surplus reached EUR 665 million in August, widening from EUR 559 mln in the previous month, state news wire MTI reports, citing a second reading of data by the Central Statistical Office (KSH).

Exports slipped 1.7% year-on-year to EUR 11.294 bln, falling for the first time in close to two years. Imports dropped 18.7% to EUR 10.629 bln, declining for the fifth month in a row.

Trade with other European Union member states accounted for 77% of Hungary's exports and 70% of its imports during the month.

Hungary's terms of trade improved 11% during the period as the forint firmed 4.2% to the euro and 11% against the dollar.

In January-August, Hungary's exports increased 8.9% year-on-year to EUR 100 bln, while imports fell 3.2% to EUR 94.413 bln. The trade surplus reached EUR 5.586 bln.

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