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

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

Hungary's central bank unveils new stimulus to bring down long yields

The Monetary Council of the Magyar Nemzeti Bank announced new monetary policy measures at its November 21st meeting, while keeping the base rate and the overnight rates unchanged, as expected. ... more