Hungary's foreign trade surplus widens 11.1% y/y in Jan-April 2014 - revised data

By bne IntelliNews July 4, 2014

Hungary's foreign trade surplus widened by 11.1% y/y to EUR 2.56bn in the first four months of 2014, the statistics office said, revising only marginally the preliminary estimate, published on June 6. Exports grew by 4.6% y/y to EUR 27.9bn in Jan-April 2014, while imports grew at the slower pace of 4% y/y to EUR 23.35bn.

In terms of specific commodity groups, exports of machinery and transport equipment, which had a 53.9% share in total, expanded by 5.9% y/y to EUR 15bn. Exports of manufactured goods increased by 4.4% y/y and accounted for a third of the total (32.4%). Exports of food, beverages, tobacco advanced by 7.6% y/y. By contrast, exports of crude material as well fuels and electric energy declined by 11.7% and 5.3% y/y, respectively.

On the import side, manufactured goods advanced by 7.1% 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 6.4% y/y to EUR 11.5bn. Imports of food, beverages, tobacco were up by 8.1% y/y as well, while imports of crude materials edged down by 0.8% y/y in the period. Finally, imports of fuels declined by 12.7% y/y in Jan-Apr.

In April alone, Hungary's foreign trade surplus narrowed by 6.6% y/y to EUR 629mn as exports rose by 3.1% y/y, while imports were up by 4.2% y/y.

Foreign trade in Jan-Apr 2014, EUR mn 
  Import % y/y Export % y/y
Total 25,345 4.0 27,903 4.6
Food, beverages, tobacco 1,338 8.1 2,188 7.6
Crude materials 580 -0.8 766 -11.7
Fuels, electric energy 2,816 -12.7 878 -5.3
Manufactured goods 9,097 7.1 9,036 4.4
Machinery and transport equipment 11,514 6.4 15,035 5.9
Source: KSH        
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