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Nov trade surplus smaller than expected - analysts

Hungary’s trade surplus was less than expected in November, analysts told MTI.

Hungary had a %666m trade surplus in November, the Central Statistics Office (KSH) said on Monday. Exports were up 3.9% and imports climbed 6% from the same month a year earlier.

TakarekBank’s Gergely Suppan said the slowdown in export growth points to weaker external demand, which could continue in the coming months. Demand on Hungary’s export markets could improve in the second half of the year, he added, putting the full-year trade surplus at %7.7bn-7.8bn.

Zoltan Arokszallasi of Erste Bank said the November surplus was well under the %800m he had expected. Import growth exceeded export growth for the first time in months, he added.