Hungary's foreign trade surplus shrinks 1.4% y/y in Jan-July 2013 - revised data.

By bne IntelliNews October 3, 2013

Hungary's foreign trade surplus shrank by 1.4% y/y to EUR 3.95bn in January to July 2013, the statistics office said, revising slightly up the preliminary figure of EUR 3.93bn. Exports grew by 1.5% y/y to EUR 47.14bn, slightly slower than the imports’ growth of 1.8% y/y to EUR 43.19bn.

In terms of specific commodity groups, exports of manufactured goods, which have a 32.6% share in total, expanded by 6.1% y/y to EUR 15.4bn. Machinery and transport equipment picked up by 1.1% y/y and accounted for more than half of the total (53.2%). By contrast, fuel exports declined by 14.5% y/y in January to July 2013. Food and crude material exports were 2% and 7.4% lower on the year, respectively.

On the import side, manufactured goods advanced by 4.7% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 45.4% share of total, increased by 1% y/y to EUR 19.9bn. Among groups with lower weight, imports of food, beverages, tobacco increased in the first seven months of 2013, while imports of crude materials and fuels declined.

In July alone, Hungary’s foreign trade surplus widened by 18% y/y to EUR 448.2mn as exports advanced by 7.4% y/y and imports grew by 6.4% y/y.

Foreign trade in Jan-July 2013, EUR mn 
  Import % y/y Export % y/y
Total 43,185 1.8 47,139 1.5
Food, beverages, tobacco 2,229 2.6 3,660 -2.0
Crude materials 991 -7.2 1,475 -7.4
Fuels, electric energy 5,411 -1.2 1,546 -14.5
Manufactured goods 14,964 4.7 15,372 6.1
Machinery and transport equipment 19,590 1.0 25,086 1.1
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. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss