Hungary's external trade surplus up by 144% y/y in August.

By bne IntelliNews October 8, 2010
Hungary's external trade posted a EUR 392mn surplus in August, surging 143.8% y/y, the preliminary figures published by the statistics office (KSH) showed. The improvement of the foreign trade position continued during the month on the back of strong exports, which posted record high growth rate of 35% y/y. The growth notably accelerated from 17.7% y/y posted in the previous month, corresponded to economic recovery in the EU countries. Imports also witnessed sizable growth of 30.7% y/y in August, speeding up from 20.8% y/y in July. Consequently, imports expanded for an eighth consecutive month, signaling for picking up in domestic demand. In cumulative terms, the foreign trade surplus reached EUR 3.5bn for the Jan-Aug period, surging by 68% y/y. Exports rose by 22.1% y/y for the period while imports were up by 19.4% y/y. The statistics office is due to publish the detailed foreign trade data for the 8-month period on Nov 2.

Hungary's external trade surplus up by 144% y/y in August.

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