Big improvement in the Hungarian trade balance

Hungary’s trade surplus reached EUR 1.089 billion in May, widening from EUR 366 million in April, the Central Statistical Office (KSH) said in a first reading of data on Monday.

Exports rose by an annual 5.2 percent to EUR 12.879 billion, a moderate increase, as in April, following a year of double-digit growth. Imports decreased by 5.4 percent to EUR 11.790 billion, falling for the second month in a row after climbing for over two years.

Trade with other European Union member states accounted for 77 percent of Hungary’s exports and 69 percent of its imports during the month.

In January-May, Hungary’s exports increased by an annual 10.5 percent to EUR 63.415 billion, while imports rose by 2.5 percent to EUR 60.906 billion. The trade surplus reached EUR 2.509.