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        

Related Articles

Russian development bank IIB signs off on debut Hungarian credit facility

The Moscow-based International Investment Bank (IIB) announced on August 9 that it has signed off on its debut credit facility in Hungary. The Russian-led IIB decided around five years ... more

Central Europe’s factories remain busy despite a summer lull in PMIs

Manufacturers in Central Europe reported a step back in activity and confidence in July, purchasing managers’ indices (PMI) released by IHS Markit on August 1 showed. While, the indicators still ... more

Hungarian branch of Bucharest listed Digi to buy Invitel Tavkozlesi in €140mn deal

Bucharest listed Digi Communications announced on July 21 that its Hungarian subsidiary, Digi Tavkozlesi es Szolgaltato, has signed an agreement to acquire Hungarian broadband and telephone provider ... more

Dismiss