Hungary's foreign trade surplus widens 7.2% y/y in Jan-Nov 2013 - revised data.

By bne IntelliNews February 3, 2014

Hungary's foreign trade surplus widened by 7.2% y/y to EUR 6.98bn in January to November 2013, the statistics office said, revising slightly up the preliminary figure of EUR 6.96bn. Exports grew by 1.9% y/y to EUR 76bn, slightly faster than the imports’ growth of 1.4% y/y to EUR 69bn.

In terms of specific commodity groups, exports of manufactured goods, which have a 32% share in total, expanded by 5% y/y to EUR 24.4bn. Machinery and transport equipment increased by 2% y/y and accounted for more than half of the total (53.4%). Exports of food, beverages, tobacco picked up by 0.3% y/y. By contrast, fuel exports declined by 10.6% y/y in January to November 2013. Exports of crude material exports were 8.6% lower on the year.

On the import side, manufactured goods advanced by 4% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 45.6% share of total, increased by 0.9% y/y to EUR 31.5bn. Among groups with lower weight, imports of food, beverages, tobacco increased in the first eleven months of 2013, while imports of crude materials and fuels declined.

In November alone, Hungary’s foreign trade surplus widened by 45.5% y/y to EUR 825mn as exports rose by 1.8% y/y, while imports dropped by 1.8% y/y.

Foreign trade in Jan-Nov 2013, EUR mn 
  Import % y/y Export % y/y
Total 69,005 1.4 75,987 1.9
Food, beverages, tobacco 3,577 0.5 6,076 0.3
Crude materials 1,609 -6.9 2,325 -8.6
Fuels, electric energy 8,547 -1.3 2,670 -10.6
Manufactured goods 23,785 4.0 24,352 5.0
Machinery and transport equipment 31,486 0.9 40,564 2.0
Source: KSH        

Related Articles

Hungarian unions in full gear for first country-wide strike at Tesco stores

Union leaders are preparing for the first country-wide strike at Tesco stores in Hungary, which has unanimous support from workers, local media reported on September 4. This is just the latest in ... more

Russian development bank IIB signs off on debut Hungarian credit facility

The Moscow-based International Investment Bank (IIB) announced on August 9 that it has signed off on its debut credit facility in Hungary. The Russian-led IIB decided around five years ... more

Central Europe’s factories remain busy despite a summer lull in PMIs

Manufacturers in Central Europe reported a step back in activity and confidence in July, purchasing managers’ indices (PMI) released by IHS Markit on August 1 showed. While, the indicators still ... more