Hungary exports/imports grow, surplus up in Oct
Hungary had a €657.6 million trade surplus in October, up from €574.4 million in the same month a year earlier, the Central Statistics Office (KSH) said in a first reading on Thursday.
Exports rose 6.5%% to €7.346 billion in October. Imports were up 5.7% at €6.688 billion. Exports and imports rose year-on-year following a drop in September, the first since April. The trade surplus for January-October came to €6.089 billion, up slightly from €6.067 billion in the same period a year earlier. Exports were up 1.1% at €67.335 billion in the period. Imports edged up 1.2% to €61.246 billion. KSH will publish a second reading of the October figures on December 21. TakarékBank chief analyst Gergely Suppan said the acceleration in exports and imports was partly due to calendar effects, as there was one less workday in the base period. He said import growth would lag behind the increase in exports because of weak domestic demand, causing the trade surplus to widen by year-end. He put the full-year surplus at €7.25 billion, compared to €7.06 billion in 2011. The surplus next year could reach €8.4 billion, he added.
ADVERTISEMENT
Continental Dohányipari Revenue Nears HUF 64 bln in 2022
Parl't Approves Amendments to Legislation on Judiciary
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.
