KSH: Trade surplus in Hungary down to €801 mln in June
Trade surplus in Hungary came to €801 mln in June, the second reading of data by Hungary’s Central Statistical Office (KSH) published yesterday reveals. The second reading was a downward revision from €820 mln in a first reading published on August 10.
KSH data suggest that, with the revised data, the surplus was up €353 mln from a year earlier, while exports climbed 13.9% to €8.062 bln during the period and imports rose 9.5% to €7.261 bln. In year-on-year terms, the first half of the year saw the surplus on the trade balance increasing by €981 mln to €4.2 bln.
Regarding the first half of 2015, the increase in the volume of machinery and transport equipment was 12% in exports and 11% in imports. The growth in the second quarter was somewhat more moderate in both directions of trade. The exports of road vehicles, having a more than 30% share, grew by one fourth due to the high world demand for motor cars.
The export and import volumes of manufactured goods were up by 6.9% and 7.3%, respectively. The import volume of fuels and electric energy was 8.1% less. The export and import volumes of food, beverages and tobacco increased by 6.1% and 5.8%, respectively. The forint price level of external trade in goods decreased by 0.6% in exports and 1.1% in imports. The forint exchange rate depreciated by 0.2% against the euro and nearly 23% against the dollar.
The terms of trade improved by 0.5%. In intra-EU trade, export and import volumes grew by 9.2% and 9.5%, respectively. The surplus on our trade with EU member states increased by €112 mln to €4.3 bln. 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 7.4% and that of imports increased by 1.1%. The deficit in relation with this group of countries was €95 mln, €869 mln less.
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.