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

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

Dismiss