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Hungary trade surplus rises further in August

Hungary posted a €254 million trade surplus in August, a second reading published on Friday by the Central Statistics Office (KSH) shows. The figure is over the preliminary estimate of €229million.

The January-August trade surplus came to €2.837 billion, compared to the €2.837 billion in the preliminary estimate.

In January-August 2008, Hungary had a trade deficit of EUR 267m. For the full year in 2008, the deficit reached €319million.

In August, euro-term exports fell 20.3% and imports decreased 26.9% from the same month a year earlier. Exports fell at a faster rate than the 18.2% in July, dropping the least since March. But the decline in imports decelerated from 31.4%, the highest rate since April. Imports declined for the tenth month in a row.

The August trade surplus followed a €183 million deficit in January, a €319 million surplus in February, a €548 million surplus in March, a €423 million surplus in April, a €490 million surplus in May, a €457 million surplus in June and €528 million surplus in July. (MTI-ECONEWS)