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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.