Hungary's foreign trade surplus narrows 18% in Q1 2012.

By bne IntelliNews June 4, 2012
Hungary's foreign trade surplus narrowed by 18% y/y to EUR 1.75bn in Q1 2012, as imports grew and exports dropped, final data published by the statistics office showed. Imports increased by 1.2% y/y to EUR 18.2bn, while exports edged down by 0.8% y/y to EUR 19.96bn. In terms of specific commodity groups, imports of machinery and transport equipment, which was the most traded category in the period with a 44.9% share of the total, declined by 4.6% y/y to EUR 8.2bn. Imports in all other groups increased with fuel and electric energy rising the most by 19.4% y/y. Imports of manufactured goods, the second largest category (33.7% share) advanced by 1.9% y/y. On the exports side, machinery and transport equipment was again the single declining item, decreasing by 8.9% y/y to EUR 10.8bn. However, it still accounted for more than half of the total. On the contrary, exports in all other groups saw a double-digit growth, which offset the drop in the former. Exports of manufactured goods, which have a 30.8% share in total, grew by 8.6% y/y to EUR 6.1bn. Exports in all other groups also saw a double-digit growth but they had lower contribution to the nominal increase since they account for a small share in the total. In March alone, Hungarys foreign trade surplus narrowed by 24% y/y, as exports declined by 3.1% y/y to EUR 7.1bn and imports edged down by 0.4% y/y to EUR 6.5bn.
Foreign trade in Q1, EUR mn
Import % y/y Export % y/y
Total 18,229 1.2 19,975 -0.8
Food, beverages, tobacco 957 7.2 1,520 6.2
Crude materials 461 5.6 655 23.0
Fuels, electric energy 2,476 19.4 822 32.3
Manufactured goods 6,150 1.9 6,144 8.6
Machinery and transport equipment 8,185 -4.6 10,834 -8.9
Source: KSH

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss