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Hungary’s external trade surplus grows to EUR 9.9 bln in 2016

Hungary’s surplus on the trade balance increased by EUR 1.3 billion and amounted to EUR 9.9 bln in 2016 as a whole, compared to the year before, Hungary’s Central Statistical Office (KSH) said this morning in a second estimate of data.

As far as the whole year is concerned the value of exports amounted to EUR 93 bln and that of imports to EUR 83.1 bln. The volume of exports was up by 4.4% and that of imports by 4.7%, compared to 2015.

The forint price level of external trade in goods decreased by 1% in exports and by 2.5% in imports, according to the KSH data. The terms of trade improved by 1.5%. The forint exchange rate depreciated by 0.5% against the euro and by 0.7% against the dollar, KSH added.

In December 2016, the export volume increased by 8% and the import volume by 7.7%, and the surplus decreased by EUR 58 million compared to the same month of the previous year. In December, the value of exports amounted to EUR 7.3 bln, that of imports to EUR 6.7 bln and the external trade surplus was EUR 579 mln, according to KSH.