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KSH: Trade surplus in Hungary down to €801 mln in June

Figures

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.

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