Hungary trade surplus reaches €753.4 mln in March

Analysis

Hungary had a €753.4 million trade surplus in March, up from €588.9 million a year earlier, the Central Statistics Office (KSH) said in a first reading of data on Friday. The monthly trade surplus was the biggest since June 2012. Exports fell 2.8% to €6.868 billion from the same period a year earlier. Imports were down 5.6% to €6.115 billion. The fall in exports followed a 1.3% yr/yr drop in February. Imports fell after a modest 0.3% increase in February. Both monthly drops came from a low base as both exports and imports were down yr/yr in March 2012. Exports fell yr/yr in four of the past six months and imports fell in three months in the period. The trade surplus amounted to €1.709 billion in January-March 2013. Exports edged down 0.1% to €19.891 billion and imports were down 0.2% at €18.182 billion. Hungary's trade surplus reached €6.82 billion in 2012, down €237 million from 2011. Full-year exports edged up 0.1% to €80.09 billion and imports increased 0.5% to €73.27 billion. KSH will publish a second reading of the data on June 3.

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