Import/export statistics for May: Exports down, but trade surplus up
The Hungarian Statistical Central Office (KSH) has released national import/export statistics for the country through May 2013, with good news and bad news for results in the fifth month: While a surplus of €653 million ($844.2 million/HUF 190.9 billion) was recorded for May, exports decreased by 1.9% year-on-year while imports decreased by 0.9% over the same time period – a comedown of €76 million.
On the plus side, the estimated numbers for May project it to be the fifth consecutive month of an improvement in trade surplus figures for Hungary, and the first five months of 2013 have seen a total trade surplus increase year-on-year of €258 million ($388 million/HUF 90.4 billion) to €3.11 billion ($4.07 billion/HUF 929 billion), a greater than 12% increase.
Through May 2013, KSH estimates place the value of Hungarian exports at €33.7 billion ($43.06 billion/HUF 9.972 trillion), while that of imports was €30.6 billion ($39.1 billion/HUF 9.043 trillion), growth of 1.8% and 1.1% year-on-year, respectively.
While the current administration has promised a de-emphasis on trade with European Union member states, these countries accounted for an estimated 76% of all Hungarian exports and 70% on imports in May.
Peak numbers (unadjusted for inflation) for Hungarian trade in a single month were reached in November 2011, with imports valuing approximately HUF 2.1 trillion and exports HUF 2.3 trillion, for a trade surplus of about €652 million.
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