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Hungary’s trade surplus widens to €653.3 mln in March

Hungary had a €653.3 million trade surplus in March 2010, well up from a €373.3 million trade surplus in February and a €486 million surplus a year earlier, the Central Statistical Office (KSH) said in a second reading, confirming the preliminary figures in its first reading on May 10.

Both export and import growth slowed slightly from February. Exports continued to rise slightly faster than imports.

Export volume was up 14.8% yr/yr in March after a 16.9% plus in February, while imports grew 13.4% after a rise of 16.4% in February. In euro terms, exports increased yr/yr by 17.8% to €6.141 billion after advancing 18.0% in February, and imports grew 16.1% to €5.488 billion after rising 17.4% in the previous month.

Hungary posted a €1.316.9 billion trade surplus in the first three months of 2010, up sharply from a €582 million surplus a year earlier.

Hungary has had a trade surplus each month since February 2009 as the crisis reduced imports even more than exports, and posted a full-year surplus of €3.979 billion in 2009.

78.9% of Hungary's March exports went into the European Union and 68.6% of March imports came from EU members.

January-March exports rose 16.9% yr/yr to €16.176 billion and imports rose 12.1% to €14.859 billion.

The surplus of trade with EU members was €2.569 billion in January-March, up from €2.08 billion a year ago, while exports in €terms grew 15% yr/yr to €12.763 billion and imports increased 13% to €10.193 billion.

2009 exports fell 18.9% in euro terms and imports were down 24.7% from 2008. (MTI – Econews)