Trade surplus revised to EUR 591 mln in August
The surplus on Hungary’s trade balance increased by EUR 147 million in August compared to the same month of 2015, amounting to EUR 591 mln, the Central Statistical Office (KSH) said in a second reading of data, revising its earlier report. The trade in goods was influenced by the fact that there were three more working days in August 2016 than a year earlier.
In August, the export and import volumes each increased by 15%. The value of exports amounted to EUR 7.2 billion and that of imports to EUR 6.6 bln. In euro terms, exports increased by 12% and imports by 11%, the KSH reported.
The volume of machinery and transport equipment increased by 18% in exports and 17% in imports, the KSH said. Export and import volumes of manufactured goods were up by 15% and 17%, respectively. The import volume of fuels and electricity decreased by 2%, while the export volume of food, beverages and tobacco increased by 4.1% and their import volume by 12%, the KSH reported.
In August, the volume of exports and imports to EU member states increased by 15%. In extra-EU trade, the volume of exports increased by 16% and that of imports by 12%. The trade balance with this group of countries improved by EUR 106 mln and the surplus was EUR 38 mln, the KSH said.
In the January-August period, the value of exports amounted to EUR 60.9 bln and that of imports to EUR 54.3 bln. Compared to the same period a year earlier, the volume of exports increased by 5.2% and that of imports by 5.9%, the KSH said. The surplus on the trade balance in the eight-month period increased by EUR 1.046 mln and amounted to EUR 6.6 bln.
The forint price level of external trade in goods decreased by 0.7% in exports and by 2.9% in imports, the KSH said, adding that the terms of trade improved by 2.3%. The forint exchange rate depreciated by 1.3% against the euro and by 1.2% against the U.S. dollar.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.