Hungary's foreign trade surplus widens 6.2% y/y in Jan-May - revised data

By bne IntelliNews August 4, 2014

Hungary's foreign trade surplus widened by 6.2% y/y to EUR 2.97bn in the first five months of 2014, the statistics office said, revising down the preliminary estimate of EUR 2.98bn, published on July 9. Exports grew by 4.1% y/y to EUR 34.93bn in Jan-May 2014, while imports grew at the slower pace of 3.9% y/y to EUR 32bn.

In terms of specific commodity groups, exports of machinery and transport equipment, which had a 54.2% share in total, expanded by 6.2% y/y to EUR 18.95bn. Exports of manufactured goods increased by 3.4% y/y and accounted for a third of the total (32.2%). Exports of food, beverages, tobacco advanced by 3.2% y/y. By contrast, exports of crude material as well fuels and electric energy declined by 12.5% and 3.3% y/y, respectively.

On the import side, manufactured goods advanced by 6.6% 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 5.2% y/y to EUR 14.5bn. Imports of food, beverages, tobacco were up by 7% y/y as well, while imports of crude materials dropped by 3.6% y/y in the period. Finally, imports of fuels declined by 7.2% y/y in Jan-May.

In May alone, Hungary's foreign trade surplus narrowed by 16.5% y/y to EUR 410mn as exports rose by 2.3% y/y, while imports were up by 3.7% y/y.

Related Articles

Explosion at Austrian gas hub interrupts supplies to Italy, Hungary and Slovenia

An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more

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