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Hungary trade surplus €464 million in October

Hungary had a €464m trade surplus in October, little changed from an €477 million trade surplus in September, the Central Statistics Office said in a first reading published on Wednesday. Imports continued to decline more than exports but the contraction of both slowed as the contraction which started with the crisis last October entered the base.

The preliminary surplus compared to a deficit of €143 million in September 2008.

October exports fell 11.8% yr/yr to €5.705 billion and imports were down 20.7% from the same month last year to €5.241 billion, respectively. The fall in exports slowed from 17.7% in September, and the pace of import contraction was also down from 23.6%, preliminary figures show.

Aside a pickup on export markets, the figures partly reflect a base effect as Hungary's exports started a yr/yr fall last October when they fell 2.5% yr/yr while October 2008 imports still rose 1.3% in one year.

Hungary's January-October trade surplus came to €3.778 billion. In the same period a year earlier, the country had a trade deficit of €315 million.

Ten-month exports fell 22.1% yr/yr to €49.033 billion and nine-month imports were down 28.4% at €45.256 billion.

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

KSH will publish detailed trade figures for January-October on December 23. (MTI-ECONEWS)