Hungary’s trade surplus falls to €6.402 bln in 2014

Telco

Hungary had a €6.402 bln trade surplus in 2014, the Central Statistics Office (KSH) said in a second reading of data today. The surplus was revised downward from €6.499 bln in the first reading released on February 9, slightly under the €6.555 bln surplus recorded in 2013.

Exports increased 4.2% to €84.7 bln while imports were up 4.7% at €78.3 bln. The surplus for December alone came to €345 mln.

In 2014, the machinery and transport equipment sector had a €9.956 bln trade surplus and net exports of the food sector reached €2.479 bln. Hungary's energy deficit reached €6.401 bln.

In a breakdown by segment, the data shows that exports of vehicle manufacturers rose 31.8% to €13.3 bln, while imports climbed 22.4% to €7.1 bln.

Exports of electric machinery and equipment increased 7.6% to €10.0 bln, while imports of the segment climbed 8.5% to €9.6 bln.

Hungary's exports to the EU accounted for about 78% of the total, in euro terms, last year. Imports from other EU members made up around 75% of the total.

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