Hungary's foreign trade surplus widens 8.6% y/y in Jan-May 2013 - revised data.

By bne IntelliNews August 5, 2013

Hungary's foreign trade surplus widened by 8.6% y/y to EUR 3.1bn in January to May 2013, the statistics office said, revising downwards the preliminary figure of EUR 3.11bn. Export grew by 1.8% y/y to EUR 33.68bn, which was faster than the imports’ growth of 1.1% y/y to EUR 30.58bn.

In terms of specific commodity groups, exports of manufactured goods, which have a 32.4% share in total, grew 6.4% y/y to EUR 10.9bn. Machinery and transport equipment picked up by 0.8% y/y and accounted for more than half of the total (53.3%). By contrast, fuel exports declined by 12.4% y/y in the first five months of 2013. Food and crude material exports were 0.9% and 2.7% lower on the year, respectively.

On the import side, manufactured goods advanced by 3.2% y/y. Imports of machinery and transport equipment, which was the most traded category in the period with a 44.9% share of total, edged up by 1.1% y/y to EUR 13.72bn. Among groups with lower weight in total, imports of food, beverages, tobacco increased in Jan-May, while imports of crude materials and fuels saw annual decline in the period.

In May alone, Hungary’s foreign trade surplus declined by 12% y/y to EUR 641.1mn as exports decreased by 1.9% y/y, faster than the imports' drop of 0.7% y/y.

Foreign trade in Jan-May 2013, EUR mn 
  Import % y/y Export % y/y
Total 30,579 1.1 33,678 1.8
Food, beverages, tobacco 1,587 0.5 2,605 -0.9
Crude materials 709 -8.0 1,075 -2.7
Fuels, electric energy 3,947 -2.2 1,142 -12.4
Manufactured goods 10,618 3.2 10,902 6.4
Machinery and transport equipment 13,719 1.1 17,954 0.8
Source: KSH        

Related Articles

Hungarian opposition parties bet on strong election turnout as cooperation talks stall

Green opposition party Politics Can Be Different (LMP) has suspended talks with fellow opposition parties after they failed to reach a cooperation agreement ahead of the April general election.  ... more

Facebook restores controversial video of head of Hungarian PM's office

Facebook has reversed its decision and restored a video posted by Janos Lazar, head of Viktor Orban's Prime Minister's Office, in which he allegedly made racists comments while walking around a ... more

Independent candidate scores stunning victory in Hungarian mayoral by-election

An independent candidate backed by opposition parties scored a stunning upset at a mayoral by-election in the town of Hodmezovasarhely, a Fidesz stronghold, on February 25, in a vote widely perceived ... more