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Hungary foreign trade surplus of €199 mln in March

Hungary had a €199 million trade surplus in March as against €118 million surplus in the same month last year and up from €157 million in February 2008, according to a second reading of the figures published by the Central Statistics Office (KSH) on Wednesday.

The March surplus is slightly up from a preliminary €170 million surplus reported on May 8. Hungary’s Q1 trade surplus of €276 million compares to €152 million deficit in the Q1 last year. March exports rose just 4.2% year-on-year, a sharp slowdown from a 18.0% growth in February, and imports slowed to 2.9% in March after a 14.0% rise in the preceding month. In volume terms March exports slowed to 5.7% after a soaring 19.6% in February imports relented to 3.6% after a13.5% increase in February. In January-March exports increased 12.8% in euro terms and 14.5% in volume terms, while imports were up 10.1% and 10.4% respectively. (MTI-Econews)