Hungary's foreign trade surplus narrows 4.5% in Jan-Jul 2012 - revised data.

By bne IntelliNews October 3, 2012
Hungary's foreign trade surplus declined 4.5% y/y to EUR 4.09bn in January to July 2012, the statistics office said, revising the preliminary figure of EUR 4.12mn. Seven-month imports increased by 1.5% y/y in euro terms to EUR 42.43bn, faster than the 1% y/y rise in exports that reached EUR 46.52bn. In terms of specific commodity groups, imports of machinery and transport equipment which was the most traded category in the period with a 45.1% share of total, edged down 0.2% y/y to EUR 19.1bn. On the other hand, imports of fuel and electricity increased 7.1% y/y and imports of manufactured goods advanced by 2.6% y/y. On the exports side, machinery and transport equipment was the single declining item, decreasing by 4.4% y/y to EUR 24.9bn. However, it still accounted for more than half of the total (53.6%). By contrast, exports of manufactured goods, which have a 31.2% share in total, grew 6.5% y/y to EUR 14.5bn. Exports of food increased 8.2% y/y, while crude materials and fuels witnessed a double-digit growth. The latter three categories had low contribution to the nominal increase since they account for a small (combined 15.2%) share in total. In July alone, Hungarys foreign trade surplus increased by 6.6% y/y to EUR 431mn. Imports rose 4.2% y/y in the month and exports grew by 4.4% y/y.
Foreign trade in Jan-Jul, 2012 EUR mn
Import % y/y Export % y/y
Total 42,428 1.5 46,521 1.0
Food, beverages, tobacco 2,212 -1.2 3,729 8.2
Crude materials 1,061 -1.5 1,576 17.2
Fuels, electric energy 5,457 7.1 1,769 10.9
Manufactured goods 14,581 2.6 14,523 6.5
Machinery and transport equipment 19,118 -0.2 24,924 -4.4
Source: KSH

Hungary's foreign trade surplus narrows 4.5% in Jan-Jul 2012 - revised data.

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