Hungary’s GDP and trade surplus on a rise?

The Central Statistical Office (KSH) revised Hungary’s second-quarter GDP growth rate to 4.9 percent from 4.8 percent in a time series update published on Tuesday.

KSH also revised its earlier reading of GDP growth for Q1 by 0.1 percentage point to 4.5 percent. It revised H1 GDP growth up 0.1 percentage point to 4.7 percent.

KSH attributed the revision “partly due to the change of base data and partly to updates of reference-quarter data used for the estimation”.

KSH noted that the updates of the time series of quarterly national accounts and GDP were published one and a half months earlier compared to the practice in previous years.

Regarding a different indicator, Hungary’s trade surplus came to 362 million euros in July. The figure was revised downward from 373 million euros in the first reading released on September 7.

Imports climbed 10.8 percent to 8.076 billion euros during the period. Exports rose by 11.4 percent to 8.438 billion euros.

Trade with other European Union member states accounted for about 80 percent of exports and 75 percent of imports.

Source: MTI