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        
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EBRD backs OTP Leasing to boost SME financing in Ukraine

The European Bank for Reconstruction and Development (EBRD) has stepped in to bolster financing for small and medium-sized enterprises (SMEs) in Ukraine, providing a guarantee to OTP Leasing to the ... more

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Raiffeisen Bank profit rises over €260mn in Hungary

more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    5 days ago
  2. RAGOZIN: Exhausting Russia, strategies and fantasies
    4 days ago
  3. COMMENT: Aliyev continues to block the chance of peace in the South Caucasus
    8 days ago
  4. Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support for Kyiv
    6 days ago
  5. Live fish fall from the sky in Central Iran - video
    2 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  2. Saudi Arabia to scale back plans for Neom city
    27 days ago
  3. Iran vs Israel: Who is better equipped for war?
    24 days ago
  4. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    28 days ago
  5. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    20 days ago

Reports

Dismiss