Hungary's foreign trade surplus narrows 3.3% y/y in H1 2013 - revised data.

By bne IntelliNews September 3, 2013

Hungary's foreign trade surplus declined by 3.3% y/y to EUR 3.5bn in January to June 2013, the statistics office said, revising down the preliminary figure of EUR 3.7bn. Export grew by 1% y/y to EUR 40.4bn, which was slightly slower than the imports’ growth of 1.4% y/y to EUR 30.58bn.

In terms of specific commodity groups, exports of manufactured goods, which have a 32.5% share in total, grew 5.8% y/y to EUR 13.1bn. Machinery and transport equipment picked up by 0.8% y/y and accounted for more than half of the total (53.6%). By contrast, fuel exports declined by 18.3% y/y in H1 2013. Food and crude material exports were 2.9% and 8% lower on the year, respectively.

On the import side, manufactured goods advanced by 4% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 45.4% share of total, picked up by 1% y/y to EUR 16.8bn. Among groups with lower weight, imports of food, beverages, tobacco increased in H1, while imports of crude materials and fuels saw annual decline in the period.

In June alone, Hungary’s foreign trade surplus shrank by 23.1% y/y to EUR 580.7mn as exports decreased by 3.2% y/y and imports dropped by 0.8% y/y.

Foreign trade in H1 2013, EUR mn 
  Import % y/y Export % y/y
Total 36,887 1.4 40,393 1.0
Food, beverages, tobacco 1,892 1.1 3,073 -2.9
Crude materials 849 -7.5 1,248 -8.0
Fuels, electric energy 4,662 -1.6 1,284 -18.3
Manufactured goods 12,726 4.0 13,135 5.8
Machinery and transport equipment 16,759 1.0 21,654 0.8
Source: KSH        
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Raiffeisen Bank profit rises over €260mn in Hungary

more

Intesa Sanpaolo’s Hungarian unit closes record year in 2023

CIB realised a record HUF64bn (€160mn) in after-tax profit, up from HUF36.1bn a year ago, which translates to a robust 21.5% ROE, the Hungarian unit of Intesa Sanpaolo said on March 26.  ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    7 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss