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Hungary trade surplus preliminary €429m in May

Hungary had a €429 million trade surplus in May 2010, down from €505 million trade surplus in April but up from a €424 million surplus a year earlier, the Central Statistics Office (KSH) said in a first reading on Friday.

Both export and import growth picked up from April, reflecting a lower base. Imports rose slightly faster than exports, contrary to the previous months.

Hungary posted a €2.250 billion trade surplus in the first five months of 2010, as against a €1.4018 billion surplus posted 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.

May exports were up 23% in twelve months at €5.692 billion and imports rose 25% yr/yr to €5.264 billion in the period.

January-May exports rose 19% to €27.527 billion and four-month imports rose 16% to 25.276 billion.

79% of Hungary's May exports went into the European Union and 67% of May imports came from EU members.

KSH will publish a second reading of May external trade figures, including details and volume changes, on July 30. (MTI-ECONEWS)