KSH: Hungary trade surplus reaches almost EUR 534 m in April

Budapest, June 8 (MTI) – Hungary’s trade surplus reached 533.6 million euros in April, the Central Statistical Office (KSH) said in a first reading of data on Monday.

Exports rose by 8.9 percent to 7.671 billion euros from the same period a year earlier. Imports were up by 9.3 percent at 7.137 billion euros.

In January-April the trade surplus was 3.020 billion euros. Exports rose by an annual 8.0 percent to 29.959 billion euros during the period. Imports increased by 6.6 percent to 26.939 billion euros.

Zoltan Istvan Marczinko, deputy state secretary at the economy ministry, told public television that the upward trend in foreign trade was continuing, adding that German carmakers Audi and Mercedes-Benz both introducing third shifts at their respective plants in Hungary contributed greatly to the positive trend.

He said Germany’s foreign trade data have also been positive, and that Hungary continues to concentrate most of its trade with the European Union with Germany being its biggest trading partner.

Marczinko said the processing industry and agriculture have also contributed to Hungary’s January-April trade surplus.

He said the government’s strategy of opening to the south has not yet had an effect on the trade balance, while the eastern opening strategy has already produced results. This was demonstrated last week during the visit of Egyptian President Abdul Fattah al-Sisi and the cooperation pacts signed between Hungary and Egypt, he added.

KSH will release a second reading of the data on July 3.

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