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Hungary trade growth slows, surplus narrows in October

Hungary had a €497.4m trade surplus in October, down from €740.6m in September but up from an €398m surplus a year earlier, the Central Statistics Office (KSH) said on Friday.

The pace of both export and import growth slowed and export growth outpaced imports now for the second month. Trade expanded at double-digit paces up to May, the increase slowed considerably in June and July before picking up in August.

October exports rose 5.3% in euro terms in twelve months, less than the 8.5% yr/yr growth in September or the 13.0% yr/yr growth in August. October exports reached €6.892bn.

Imports increased 4.0% in twelve months to €6.395bn in October. Import grew 5.4% in September after a 13.1% rise in August.

Hungary registered a €5.948.2bn surplus in January-October, up €1.617bn from the same period a year earlier. Ten-month exports rose 13.9% to €66.513bn. Imports in the period were up 12.0% at €60.565bn.

Other Europan Union member states had a 77% share in Hungary’s exports and a 68% share in its imports in October.

KSH will publish a second reading of the data on December 23.