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Hungary trade surplus spurts in May

Hungary had a €719.8 million trade surplus in May, up from €479.3 million in April, and also up from €402 million a year earlier, the Central Statistics Office (KSH) said on Friday.

The surplus widened after narrowing in April, which followed new peaks in the previous two months. The pace of both export and import growth increased from April, with a bigger increase in exports, and the gap between export and import growth widened.

The January-May trade surplus was €3.3 billion, up from €2.3 billion one year earlier.

May exports totaled €6.8 billion and imports totaled €6.1 billion.

May exports rose 18.8% yr/yr after a 13.2% rise in April, and import growth also accelerated, to 14.2% from 13.9% in April.

January-May exports reached €33.1 billion, rising 20.4% in euro terms, and imports, at €29.9 billion, were up 18.5% yr/yr in the period.

The trade surplus for the full year of 2010 was €5.5 billion, up from €3.7 billion in 2009.

The KSH will publish a second reading of May figures, including details and volume changes, on August 3.