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Analysts see narrowing trade surplus in July

Analyst polled by MTI said Hungary's trade surplus probably narrowed in July from June.

The Central Statistical Office (KSH) will publish preliminary trade balance data for July on Wednesday.

Senior analyst at K&H Bank György Barcza estimated Hungary had a €100 million trade surplus in July, well under the €457 million surplus in June. Although Hungary usually has a trade deficit in July, imports fell at a faster pace than exports to give the country a surplus, he added.

Erste Bank's Orsolya Nyeste declined to give an absolute estimate for the July trade surplus, but said it would be less than in June.

Gergely Suppan of Magyar Takarékszövetkezetek Bank put the July surplus at €235 million from July. Gas imports will probably increase, but the drop in retail turnover and car sales will more than offset this growth, he said.

The June trade surplus was €457.3 million, well over the €42 million surplus in the same month a year earlier. (MTI – Econews)