Hungary's foreign trade surplus widens 1.3% y/y in Jan-Sep 2013 - revised data.

By bne IntelliNews December 4, 2013

Hungary's foreign trade surplus widened by 1.3% y/y to EUR 5.4bn in January to September 2013, the statistics office said, revising slightly down the preliminary figure of EUR 5.41bn. Exports grew by 1.6% y/y to EUR 60.87bn, slightly slower than the imports’ growth of 1.7% y/y to EUR 55.47bn.

In terms of specific commodity groups, exports of manufactured goods, which have a 32.3% share in total, expanded by 5.4% y/y to EUR 19.67bn. Machinery and transport equipment increased by 1.6% y/y and accounted for more than half of the total (53.2%). By contrast, fuel exports declined by 12.8% y/y in January to September 2013. Food and crude material exports were 1.4% and 8% lower on the year, respectively.

On the import side, manufactured goods advanced by 4.4% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 45.5% share of total, increased by 1.2% y/y to EUR 25.23bn. Among groups with lower weight, imports of food, beverages, tobacco increased in the first nine months of 2013, while imports of crude materials and fuels declined.

In September alone, Hungary’s foreign trade surplus widened by 16.1% y/y to EUR 830.3mn as exports rose by 7.2% y/y while imports grew at the slower rate of 6.2% y/y.

Foreign trade in Jan-Sep 2013, EUR mn 
  Import % y/y Export % y/y
Total 55,474 1.7 60,872 1.6
Food, beverages, tobacco 2,871 2.4 4,830 -1.4
Crude materials 1,290 -7.1 1,879 -8.0
Fuels, electric energy 6,869 -2.2 2,092 -12.8
Manufactured goods 19,216 4.4 19,658 5.4
Machinery and transport equipment 25,229 1.2 32,413 1.6
Source: KSH        

Related Articles

Hungary planning to strike fair deal on INA, says Orban

Hungary is ready to strike a "fair deal to end the poisonous dispute" surrounding MOL and Croatian energy company INA, Hungarian PM Viktor Orban said after he met his Croatian counterpart Andrej ... more

Hungary gets ready for China-CEE “16+1” summit

The Hungarian government will join the China-Central and Eastern Europe Investment Cooperation Fund, a private equity fund organised by the Export-Import Bank of China, by investing €50mn, ... more

Hungary's central bank unveils new stimulus to bring down long yields

The Monetary Council of the Magyar Nemzeti Bank announced new monetary policy measures at its November 21st meeting, while keeping the base rate and the overnight rates unchanged, as expected. ... more

Dismiss