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Hungary foreign trade surplus €157 mln in February - up from preliminary

Hungary had a €157 million trade surplus in February as against a deficit of €51 million in February 2007 and a deficit of €80 million in January 2008, according to a second reading of the figures published by the Central Statistics Office (KSH) on Tuesday.

The February surplus is slightly up from a preliminary €149 million surplus reported on April 8. February exports rose 18.0% in twelve months to €6.205 billion, and imports increased 14.0% to €6.048 billion, both revised slightly up. In volume terms, February exports rose 19.6% year-on-year (yr/yr) and imports rose 13.5%.

January-February trade showed a surplus of €77.5 million, as against a deficit of €270 million in the same period last year. Two-month exports rose 17.7% to €12.187 billion and imports were up 114.0% at €12.109 billion. Two-month export volume rose 19.5% from a year earlier and import volume rose 13.9% yr/yr.

Hungary’s terms of trade worsened in January-February 2008 from a year earlier as forint-term export prices rose 0.4% and forint-term import prices rose 1.8% in twelve months. The forint slightly weakened against the major currencies of trade in the first two months, firming 10% against the euro and weakening 2% against the euro.

Hungary posted a foreign trade deficit of €308 million in 2007, in a sharp fall from an €2.379 billion deficit in 2006. 2007 exports rose 16.2% in euro terms and imports rose 12.12%. (MTI-Econews)