Hungary's foreign trade surplus surges 76.4% y/y in Jan 2014 - revised data.

By bne IntelliNews April 3, 2014

Hungary's foreign trade surplus widened by 76.4% y/y to EUR 482.4mn in January 2014, the statistics office said on April 2, revising up the preliminary estimate of EUR 461.4mn.

Exports grew by 3.1% y/y to EUR 6.62bn in the first month of 2013, while imports edged down by 0.2% y/y to EUR 6.14bn.

In terms of specific commodity groups, exports of machinery and transport equipment, which had a 52.7% share in total, expanded by 3.8% y/y to EUR 3.5bn. Exports of manufactured goods increased by 3% y/y and accounted for a third of the total (32.8%). Exports of food, beverages, tobacco as well as fuels and electric energy advanced by 9.6% y/y and 2% y/y, respectively. By contrast, exports of crude material exports were 19.1% lower on the year.

On the import side, manufactured goods advanced by 6.7% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 44.4% share of total, increased by 4.7% y/y to EUR 2.73bn. Imports of food, beverages, tobacco and crude materials also increased in the month, while imports of fuels declined by 28.5% y/y in January 2014.

The country had a foreign trade surplus of EUR 7bn in 2013, up by 5.3% y/y. Exports and imports grew by 2.2% y/y and 1.9% y/y, respectively in the period.

Foreign trade in January 2014, EUR mn 
  Import % y/y Export % y/y
Total 6,141 -0.2 6,624 3.1
Food, beverages, tobacco 348 6.7 537 9.6
Crude materials 138 2.5 188 -19.1
Fuels, electric energy 741 -28.5 234 2.0
Manufactured goods 2,185 6.7 2,173 3.0
Machinery and transport equipment 2,729 4.7 3,493 3.8
Source: KSH        

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