Hungary's foreign trade surplus up by 53.1% y/y in Jan-Sep.

By bne IntelliNews December 3, 2010
The foreign trade surplus soared by 53.1% y/y to HUF 1.11tn, while in terms of euro it grew by 58.9% y/y to EUR 4.033bn in January-September, the statistics office reported. Exports increased by 18% y/y to HUF 14.358tn for the nine-month period, while expressed in euro, they expanded by 22% to EUR 52.2bn. The growth in imports in terms of forints stood at 16% y/y to HUF 13.248tn, while expressed in euro, the increase was 19% to EUR 48.1bn in January-September. The trade in machinery and transport equipment, which has the highest relative weight, grew by about 20% in both imports and exports. The export volume of manufactured goods increased by 14% and the import volume by 13% y/y. The imports of fuels and electric energy went up by 11% y/y while their imports decreased in Q3. The imports of food, beverages and tobacco inched up insignificantly, while exports climbed by 9%. In September alone, the foreign trade surplus went up by 37.8% m/m and by 17.6% y/y to EUR 540mn. Exports soared by 12.7% m/m and 18.5% y/y to EUR 6.6bn and imports by 14.3% m/m and 18.6% y/y to EUR 6.074bn.

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