Hungary's foreign trade surplus widens 6.7% y/y in Jan-July 2014 - revised data

By bne IntelliNews October 3, 2014

Hungary's foreign trade surplus widened by 6.7% y/y to EUR 3.77bn in the first seven months of 2014, the statistics office said on October 2 revising down the preliminary estimate of EUR 3.78bn. Exports grew by 5.1% y/y to EUR 49.13bn in the period, while imports increased at the slightly slower pace of 5% y/y to EUR 45.36bn.

In terms of specific commodity groups, exports of machinery and transport equipment, which had a 54.4% share in total, expanded by 6.9% y/y to EUR 26.7bn. Exports of manufactured goods increased by 3.9% y/y and accounted for a third of the total (32%). Exports of food, beverages, tobacco as well as fuels and electric energy advanced by 2.7% y/y and 8.7% y/y, respectively. By contrast, exports of crude material declined by 10.4% y/y.

On the import side, manufactured goods advanced by 6.7% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 46% share of total, increased by 5.6% y/y to EUR 20.9bn. Imports of food, beverages, tobacco were up by 6.5% y/y as well, while imports of crude materials dropped by 4.7% y/y in the period. Finally, imports of fuels declined by 0.8% y/y in the first seven month of 2014.

In July alone, Hungary's foreign trade surplus increased by 11.6% y/y to EUR 482mn as exports rose by 9.2% y/y, while imports were up by 9% y/y.

Foreign trade in Jan-July 2014, EUR mn 
  Import % y/y Export % y/y
Total 45,364 5.0 49,130 5.1
Food, beverages, tobacco 2,302 6.5 3,686 2.7
Crude materials 967 -4.7 1,315 -10.4
Fuels, electric energy 5,364 -0.8 1,688 8.7
Manufactured goods 15,853 6.7 15,738 3.9
Machinery and transport equipment 20,879 5.6 26,703 6.9
Source: KSH        

Related Articles

Hungarian opposition parties seek explanation for secret admission of asylum seekers

Despite its all-out attacks on the EU’s refugee quotas, Viktor Orban's government secretly gave permission for the admission of the same number of asylum seekers to the country in 2017 as ... more

Hungarian president sets date for parliamentary election

President Janos Ader has set April 8 as the date of Hungary's general election, it was announced on January 11. This is the earliest possible Sunday that the ballot can be held under the law. The ... more

Hungarian government backtracks from collecting fines from opposition parties before election

The Economy Ministry on January 10 asked the tax authority to delay collecting fines from opposition parties imposed by the state auditor ASZ to ensure that their pre-election budgets and campaign ... more

Dismiss