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Hungary trade growth slows, surplus widens in September

Hungary had a €741.5m trade surplus in September, up from €501.2m in August and also up from a €506.6m surplus a year earlier, the Central Statistics Office (KSH) said on Wednesday.

Both export and import growth slowed in euro terms after accelerating to the double-digit figures experienced up to May in August. The pace of September export growth was again well below that of imports after the similar paces in August. The pattern was similar to 2010 when the pace of trade growth slowed in September after robust growth in August.

September exports rose 8.1% in the twelve months to September, less than the 13.0% yr/yr growth in August, but more than the 5.8% yr/yr growth in July, and reached €7.149bn in September. Imports rose 5.0% in twelve months to €6.407bn in September. Import grew 13.1% in August after rising just 2.5% yr/yr in July.

Hungary registered a €5.451.7bn surplus in January-September, up €1.517bn from the same period a year earlier. Nine-month exports rose 15.0% to €59.596bn. Imports in the period were up 13.0% at €54.144bn.

KSH will publish a second reading of the data on December 2.