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Hungary has foreign trade surplus €47 mln in May – preliminary

Hungary posted a €47 million trade surplus in May, €27 million more than in May 2007, preliminary figures published by the Central Statistics Office (KSH) on Wednesday show.

The surplus is the fourth one in a row after a surplus of €157 million in February and €199 million in March and €64 million in April. Hungary’s five-month trade surplus was preliminary €388 million as against a deficit of €287 million in January-May 2007.

May exports rose 6.7% in twelve months to €6.097 billion, and imports increased 6.2% to €6.049 billion. Trade growth returned to a moderate level from export growth rate of 22.8% in April, just 4.2% in March, while imports jumped 18.3% in May after just 3.6% increase in March. The May trade slowdown followed a similar downturn in the same month last year.

Five-month exports rose 13.5% to €30.869 billion and imports were up 10.9% at €30.482 billion.

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%. In May 78% of Hungary’s exports went to other EU members and 67% of its imports came from the EU.

KSH will publish detailed and revised May trade figures on August 5. (MTI-Econews)