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Hungary trade surplus EUR 440 m in August

Hungary trade surplus EUR 440 m in August

Hungary had a 440 million euro trade surplus in August, the Central Statistical Office (KSH) said in a first reading of data on Monday.

The surplus was down 119 million euros from the same month a year earlier.

Exports rose by an annual 10.3 percent to 7.9 billion euros. Imports were up by 13.0 percent at 7.5 billion euros.

About 79 percent of exports and 76 percent of imports were traded with other European Union member states.

The trade surplus reached 5.6 billion euros for January-August, down 1.1 million euros from the same period a year earlier. Exports were up by 9.3 percent at 66.5 billion euros and imports rose by 12.5 percent to 60.9 billion euros.

Commenting on the data to MTI, Péter Virovácz of ING said import growth continues to exceed export growth, reflecting the ongoing recovery of domestic demand.

Gergely Suppán of Takarékbank said

the trade surplus could fall to 8.4 billion euros this year from 9.725 billion in 2016.

Source: MTI

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