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Hungary October trade surplus was HUF 408.2m, final reading

Hungary had a €408.2 million trade surplus in October, down from €540 million in September, but still up from €392 million in August. It was, however, down on €441.5 million surplus a year earlier, the Central Statistics Office (KSH) said on Thursday. The final result for October is broadly in line with the preliminary figure of €408 million which was published in December 9.

Hungary posted a €4.441 billion trade surplus in the first ten months of 2010, well up from a €2.98 billion surplus recorded a year earlier.

The pace of export growth dropped behind import growth now for the second month in both volume and EUR terms.

Export were up 11.5% yr/yr in October after a 12.7% plus in September while imports grew 13.0% after yr/yr after adding 12.6% in September in volume terms.

October exports were up 16.3% yr/yr to €6.519 billion after growing 18.5% in September to €6.615 billion, and imports rose 18.3% yr/yr to €6.111 billion after a plus of 18.6% in September to €6.074 billion. Both exports and imports growth was revised slightly up from the first reading.

January-October exports rose 21.0% yr/yr to €58.67 billion and ten-month imports rose 19.2% yr/yr to €54.229 billion. Ten-month export volume was up 17.6% and import volume rose 15.6% from a year earlier.

Exports in HUF terms — HUF 16,153 billion in the first ten months, 18% up yr/yr— were now higher than two years ago while imports — HUF 14,934 billion, up 16.2% yr/yr — still lag behind, KSH said.

In 2009, Hungary's export dropped 19.4% and imports fell 24.8% from 2008.

Terms of trade were almost unchanged in January-October yr/yr as HUF prices grew 0.3% in exports and 0.5% in imports, while the forint lost 1.2% to the USD and gained 2.5% to the EUR, KSH said. (MTI-ECONEWS)