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Hungary trade surplus grows to preliminary €392m in August

Hungary had a €392 million trade surplus in August, up from a €241 million surplus in July and a €60.8 million surplus a year earlier, the Central Statistics Office (KSH) said in a first reading on Thursday.

Export growth accelerated in euro terms after slowing down in July and picking up in June, and import growth also accelerated. Exports rose faster than imports as opposed to July, but similar to June.

Hungary posted a €3.493 billion trade surplus in the first seven months of 2010, well up from a €2.079 billion surplus recorded a year earlier, preliminary figures show.

August exports were up 35% in twelve months at €5.705 billion and imports rose 30.7% yr/yr to €5.313 billion in the period. Exports rose 17.7% yr/yr in July, and imports grew 20.8%.

January-August exports rose 22.1% to €45.536 billion and eight-month imports rose 19.4% to 42.043 billion. In 2009, Hungary's exports dropped 19.4% and its imports dropped 24.8% from 2008.

74% of Hungary's August exports went into the European Union and 68% of August imports came from EU members.

KSH will publish a second reading of August external trade figures, including details and volume changes, on November 2. (MTI-Econews)