Daily News Hungary economy

Budapest, February 9 (MTI) – Hungary had a trade surplus of 556 million euros in December, narrowing by 82 million euros from the same month a year earlier, the Central Statistical Office (KSH) said in the first reading of data on Thursday.

Exports climbed 7.7 percent to 7.284 billion euros. Imports were up by 9.9 percent at 6.728 billion euros.

The trade surplus for the full year came to 9.978 billion euros, up by 1.383 billion euros from 2015. Exports increased by 3.1 percent to 93.274 billion euros and imports rose by 1.7 percent to 83.295 billion euros.

Takarekbank analyst Gergely Suppán said a pickup in domestic investments and higher oil prices would probably cause the trade surplus to narrow to 8.6-8.8 billion euros this year.

Erste Bank chief analyst Gergely Urmossy also said rising investment activity and higher consumption would boost imports this year, while a temporary shutdown of some automotive industry capacity could weigh on exports, causing the trade surplus to fall.

Source: MTI

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