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Hungary trade surplus €411m in November

Hungary had a €411 million trade surplus at current prices in November, smaller than the €471 million surplus in October, the Central Statistical Office (KSH) said in a first reading published on Monday.

The preliminary surplus compared to a surplus of €77.2 million in November 2008.

Imports continued to decrease more than exports but the contraction of both slowed as the sharp decline which started with the crisis in October 2008 entered the base.

November exports fell 3% yr/yr to €5.788 billion and imports were down 9% from the same month of 2008 to €5.377 billion, respectively, but continued to grow month-on-month from October when exports were €5.708 billion, and imports reached 5.237 billion, preliminary figures showed.

The yr/yr fall in exports slowed from 11.8% in October, and the pace of import contraction was also down from 20.8%.

Hungary's January-November 2009 trade surplus came to €4.196 billion. In the whole of 2008 it had a deficit of €319.4 million.

Eleven-month exports fell 20% yr/yr to €54.824 billion and eleven-month imports were down 27% at €50.628 billion. In 2008 as a whole, exports grew 3.4% in volume and reached €73,38 billion and imports increased 3.3% in volume, fetching €73,7 billion.

For the full year in 2008, the trade deficit reached €319 million.

KSH will publish detailed trade figures for January-November 2009 on February 2. (MTI-Econews)