Latest economic data from Hungary: trade surplus and factory gate prices up

Data released by the Central Statistics Office (KSH) on Monday show that Hungary had a EUR 1.140 bn trade surplus in February. Also, factory gate prices in Hungary rose 8.2pc year-on-year in February.

Hungary trade surplus reaches EUR 1.140bn in February

Exports slipped 3.3pc year-on-year to EUR 12.297bn. Imports edged up 1.6pc to EUR 11.156bn.

According to KSH, tTrade with other European Union member states accounted for 75pc of Hungary’s exports and 71pc of its imports during the month. Hungary’s exports to the rest of the world dropped 14pc, while imports from those countries inched up 0.4pc, KSH noted.

Hungary’s terms of trade improved 1.7pc during the period as the forint weakened 3.9pc against the euro and 7.7pc to the dollar.

For the period January-February, Hungary’s trade surplus reached EUR 2.059bn. Exports were flat at EUR 24.228bn and imports rose 1.1pc to EUR 22.169bn.

As we wrote today, the average gross wages are up by more than 10 percent in Hungary – read the latest figures here

Factory gate prices climb 8.2pc in February

Prices for domestic sale increased 5.4pc and export prices climbed 9.6pc.

KSH said PPI rose mainly because of the weakening of the forint against the euro and the increase in production costs.

Domestic prices of the manufacturing sector, which have a 62.7pc weight in the PPI, rose 5.0pc year-on-year. Domestic energy prices, which account for 35.4pc of PPI, climbed 5.8pc.

Export prices of the manufacturing sector, which have a 91.8pc weight in the PPI, rose 4.7pc.

In a month-on-month comparison, factory gate prices edged down 0.4pc as prices for domestic sale were flat and export prices inched 0.6pc lower.

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