KSH: Hungary’s trade surplus revised downward to €497 mln
Hungaryʼs trade surplus reached €497 mln in April, with imports rising by a y.o.y. 9.7% to €7.161 bln and exports climbing by 8.8% to €7.659 bln, the Central Statistics Office (KSH) said in a second reading of data released today. Figures were down from the first reading of €534 mln.
In year-on-year terms the increase in the volume of machinery and transport equipment was 12% in exports and 11% in imports. The export and import volumes of manufactured goods were up by 4.2% and 6.9%, respectively. The import volume of fuels and electric energy was 12% higher. The export and import volumes of food, beverages and tobacco increased by 6.0% and 2.4%, respectively.
In the first four months of the year, the value of exports amounted to €29.9 bln, while that of imports reached €27.0 bln. The surplus on the trade balance was €3 bln, which was €515 mln more than in the same period of the previous year. The forint price level of external trade in goods decreased by 1.9% in imports and 1.5% in exports. The forint exchange rate was up by 0.4% against the euro and down by 23% against the dollar. The terms of trade improved by 0.4%.
In intra-EU-trade, export and import volumes grew by 9% and 10%, respectively. The surplus on Hungaryʼs trade with EU member states was €3 bln, €68 mln less than in the same period of the previous year. The share of European Union Member States was 79% in exports and 77% in imports. In extra-EU trade, the volume of exports grew by 11% and that of imports increased by 4.6%. The deficit in relation to this group of countries was €29 mln, €583 mln less than in the same period of the previous year.
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.