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Hungary terms of trade worsen, Oct surplus little changed in 2nd reading

Analysis

Hungary had a €490.3m trade surplus in October, slightly down from a preliminary €497.4m, and down from €740.6m in September, but up from an €398m surplus a year earlier, the Central Statistics Office (KSH) said in a second reading on Friday.

October imports were slightly down in volume terms while exports rose faster in volume than in euros, and terms of trade worsened as a result, the detailed figures show. The pace of euro-term export and import growth slowed, and export growth outpaced imports now for the second month.

October exports rose 5.2% in euro terms and rose 6.6% in volume terms in twelve months. Both paces were down from the previous two months. October exports reached €6.887bn.

Imports increased 4.0% in euro terms yr/yr to €6.397bn in October, but were 0.4% under their twelve-month earlier level in volume terms. Import grew 5.4% in euro terms and grew 2.2% in volume terms in September.

Hungary registered a €5.941.1bn surplus in January-October, up €1.609bn from the same period a year earlier. Ten-month exports rose 13.9% to €66.508bn. Imports in the period were up 12.0% at €60.397bn.

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