Hungary's foreign trade surplus widens 3% in Q1 2013 - revised data.

By bne IntelliNews June 4, 2013

Hungary's foreign trade surplus widened by 3% y/y to EUR 1.74bn in Q1 2013, the statistics office said, revising upwards the preliminary figure of EUR 1.7bn. Imports edged down by 0.3% y/y to EUR 18.2bn, while exports remained flat on the year at EUR 19.9bn.

In terms of specific commodity groups, imports of manufactured goods advanced by 3.3% y/y. Imports of fuel and electricity increased as well, while food, beverages, tobacco imports remained unchanged in annual comparison. Imports of machinery and transport equipment, which was the most traded category in the period with a 44% share of total, declined by 2.6% y/y to EUR 8bn.

On the exports side, manufactured goods, which have a 32.3% share in total, grew 5.4% y/y to EUR 6.4bn. By contrast, machinery and transport equipment decreased by 1.9% y/y but still accounted for more than half of the total (53.4%). Fuel exports declined by 12.8% y/y in the first three months of 2013. Food exports were 2% lower on the year.

In March alone, Hungary’s foreign trade surplus expanded by 33.1% y/y to EUR 784mn as exports dropped by 5.8% y/y, faster than imports decline of 2.6% y/y.

Foreign trade in Q1 2013, EUR mn 
  Import % y/y Export % y/y
Total 18,171 -0.3 19,911 0.0
Food, beverages, tobacco 955 0.0 1,504 -2.0
Crude materials 428 -8.8 662 0.3
Fuels, electric energy 2,478 0.0 686 -12.8
Manufactured goods 6,313 3.3 6,427 5.4
Machinery and transport equipment 7,999 -2.6 10,632 -1.9
Source: KSH        

Related Articles

Czech judiciary denounces Poland's move to end separation of powers

Senior Czech judges on July 21 denounced Poland's judicial overhaul as an attack on the rule of law. With big street protests in the Czech Republic's neighbour seemingly gathering momentum – 120 ... more

Hungary's MOL strikes licensing deals essential to $1.9bn petrochemical expansion ambitions

Hungary's MOL announced on July 20 that it has struck licensing deals with Germany's Evonik Industries and Thyssenkrupp that will be essential in its plan to roll out a $1.9bn investment in ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more