Daily News Hungary economy

Budapest (MTI) – Hungary posted a higher-than-expected trade surplus of 935.4 million euros in February, the Central Statistical Office (KSH) said in a first reading of data on Wednesday.

Exports rose by 7.4 percent to 7.290 billion euros while imports went up by 6.3 percent to 6.355 billion.

In 2014, Hungary had a trade surplus of 6.4 billion euros, compared with 6.55 billion euros in 2013.

K and H chief analyst David Nemeth said the fresh data show dynamic development, with the increase in exports supported by accelerated improvement in European economies, especially in the automotive sector.

TakarekBank analyst Gergely Suppan said the slight negative impact on export growth of the Russian food embargo would be countered by a pickup in new automotive and manufacturing capacity in the coming months. In a separate note to investors, he said: “We expect a firming of the forint in the medium term due to a spectacular improvement in the current and trade accounts.”

Source: http://mtva.hu/hu/hungary-matters

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