The surplus on the trade balance was €534 mln, while the share of European Union Member States was 78% in exports and 76% in imports, KSH added.

In euro terms, exports and imports increased by 8.9% and 9.3%, respectively compared to the same month of the previous year, KSH said.

Takarékbank chief analyst Gergely Suppan said the weaker euro, lower oil prices and the European Central Bankʼs quantitative easing could impact European economies positively, lifting external demand and countering a rise in imports as domestic demand picks up, Hungarian news agency MTI reported.

ING Bank senior analyst András Balatoni noted that the pace of export growth had slowed in April from the previous month, causing the trade surplus to narrow, but said it was not the sign of a trend, MTI added.