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Hungary trade surplus narrows

Hungary had a €373.8 million trade surplus in July, down from €609 million in June but more than double of the €162 million surplus in the same month a year earlier, the Central Statistical Office (KSH) said on Friday.

The pace of export growth more than doubled from June, partly on base effects, and import growth slowed further. The pace of both exports and imports growth was still well below the doubled-digit increases experienced before June.

Exports rose 6.6% in the twelve months to July, more than double the 3.1% growth rate in June, and reached €6.198 billion. Imports increased 3.0% to €5.824 billion in July. Import growth slowed further from 3.8% in June.

The surplus for January-July came to €4.228 billion, rising €1.245 billion from the same period a year earlier. Seven-month exports rose 16.5% to €46.065 billion. Imports were up 14.4% at €41.837 billion.

KSH will publish a second reading of the data on October 3.