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Hungary trade surplus €505m in April, down from 1st reading

Hungary had a €505 million trade surplus in April 2010, down from a €653 million trade surplus in March but up from a €396 million surplus a year earlier, the Central Statistical Office (KSH) said in a second reading on Friday. The surplus revised down from a preliminary €526 million published on June 8.

Both in euro terms and in volume, exports continued to grow at a slightly faster pace than imports. Exports and imports growth picked up from March from a lower base.

Export volume was up 16.8yr/yr in April after a 14.8% yr/yr increase in March , while imports grew 15.9% after a 13.4% rise in March. In €terms, exports increased yr/yr by 21.7% to €5.659 billion after advancing 17.8% in March, and imports grew 21.1% to €5.154 billion after rising 16.1% in the previous month.

January-April exports rose 16.3% in volume terms from a year earlier and in euro terms they rose 18.1% to €21.834 billion,. Four-month import volume rose 13.5% and euro-term imports rose 14.3% to 20.013 billion.

2009 exports fell 18.9% in euro terms and last year's imports were down 24.7% from 2008.

The four-month trade surplus was revised to €1.821 billion from a €1.843 billion in the first reading. The surplus in the first four months of 2010 almost doubled from €978m a year earlier.

Hungary has had a trade surplus each month since February 2009 as the crisis reduced imports even more than exports. The country posted a full-year surplus of €3.98 billion in 2009. (MTI-Econews)