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Hungary trade surplus narrows to EUR 293 m in October

Hungary trade surplus narrows to EUR 293 m in October

Hungary had a 293 million euro trade surplus in October, narrowing by 232 million euros from the same month a year earlier, the Central Statistical Office (KSH) said in the first reading of data on Friday.

Exports increased by 6.5 percent to 9.456 billion euros during the period. Imports were up 9.7 percent at 9.163 billion euros.

Trade with other European Union member states accounted for about 82 percent of exports and 73 percent of imports during the month.

The trade surplus reached 5.154 billion euros for the period January-October, falling by 1.671 billion from the same period a year earlier. Exports were up 4.5 percent at 87.899 billion euros during the period. Imports increased by 7.0 percent to 82.745 billion euros.

KSH will publish a second reading of the data on December 21.

Erste Bank analyst Orsolya Nyeste acknowledged a pickup in export growth in October, but said the trade surplus would still continue to narrow.

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Source: mti/KSH

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