Hungary's foreign trade surplus down by 26.6% y/y in July.

By bne IntelliNews October 1, 2010
Foreign trade registered a surplus of EUR 240.7mn in July, decreasing by 26.6% y/y, data from the National Bank of Hungary (NBH) showed. On a cumulative basis, the surplus reached EUR 3.1bn in Jan-Jul, down by 17.1% y/y. Imports in July grew by 20.7% y/y, outperforming the exports. The latter rose by 17.7% y/y, slowing down from 24.5% y/y in the previous month. However, exports still grew at a faster pace by 20.5% y/y for the Jan-Jul period, boosted by machinery and transport equipment exports. The growth rate in the energy exports was well above the average at 50.2% y/y. On the import side, the growth was dominated by crude materials, energy and machinery and equipment as well, signaling for a rebound of industrial production in the country. Imports of manufactured goods increased bellow the average, while imports of food beverages and tobacco registered a marginal drop for the 7-month period. The terms of trade remained unchanged during the period as exports prices declined.

Hungary's foreign trade surplus down by 26.6% y/y in July.

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