Unprecedented trade surplus data may help forint

Hungary’s trade surplus widened to 1.481 billion euros in June from 1.129 billion in May, the Central Statistical Office (KSH) said in a first reading of data on Tuesday.

Exports grew by an annual 11.1 percent, to 13.380 billion euros, while imports decreased by 4.7 percent to 11.899 billion. Trade with other European Union member states accounted for 77 percent of Hungary’s exports and 71 percent of its imports during the month.

In January-June, Hungary’s exports rose by 10.8 percent year on year, to 76.920 billion euros, while imports were up 1.4 percent at 72.890 billion. The trade surplus was 4.030 billion euros. According to Gábor Regős, the leading analyst of the Makronóm Institute, the good news about Hungary’s current balance may help forint to strengthen, Index wrote.

Hungary greenhouse gas emissions down 7 pc yr/yr, close to 2030 target

Hungary’s greenhouse gas emissions fell by 7 percent in 2022 compared with 2021, the energy ministry said on Tuesday, citing the National Meteorological Service (OMSZ) which sends approximate data on emissions to the European Commission at the end of July each year. Since 1990, emissions have fallen by 37 percent, the ministry said in a statement citing the preliminary data.

Industrial emissions were down 18 percent year on year, while those contributed by agriculture declined by 12 percent. Transport-related emissions increased but the upward curve flattened, the statement added. Total emissions of Hungarian businesses registered in the EU Emissions Trading System (ETS) fell by 12 percent in 2022.

Eurostat data from June indicates that Hungary cut its carbon dioxide emissions from energy use by 8.6 percent, to the greatest extent after the Benelux countries, the statement said. Final data will be released in spring 2024.