Trade surplus reaches EUR 382 mln in January
Pixabay
In euro terms, exports increased by 6.4% and imports grew by 9.7% in January 2019, compared to January 2018, shows a first estimate of monthly data for the external trade in goods from the Central Statistical Office (KSH).
The surplus was down by EUR 225 mln year-on-year, noted the KSH.
In absolute terms in January 2019, the value of exports amounted to EUR 8.993 billion, while imports totaled EUR 8.611 bln.
The share of European Union Member States was 82% in exports and 71% in imports.
Responding to the data announcement, Erste Bank analyst Orsolya Nyeste noted that the trade surplus continued to narrow in January as import growth outpaced export growth. She forecast that the full-year surplus could fall to EUR 4-4.5 bln for 2019, down from EUR 5.56 bln in 2018.
TakarékBank analyst Gergely Suppan argued that new export capacities inaugurated this year would counter, in part, the worsening growth outlook for Europe. He put the 2019 trade surplus at EUR 5.3 bln.
A second, more detailed estimate of data for the external trade in goods in January 2019 will be published on April 1.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next 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.
