Hungary's Jan-'say revised trade surplus up by 41.8% y/y.

By bne IntelliNews August 4, 2011
Hungary's foreign trade surplus increased by a revised 41.8% y/y to EUR 3.3bn in Jan-May, up by 0.5pps from the annual preliminary figures, the statistics office reported. Expectedly, the strong exports fuelled the improvement of the trade balance. The exports were up by 20.6% to EUR 33.2bn and the imports were up by 18.6% y/y to EUR 29.9bn. In May alone, the gap between the growth rates of exports and imports widened. In particular, the exports' growth accelerated to 19.4% y/y from 13.3% y/y in April with its absolute value being EUR 6.8bn. Imports increased by 14.6% y/y, slightly up from 14% y/y in previous month, reaching EUR 6.1bn in May 2011. The trade surplus stood at EUR 730.4mn in the month, surging by 81.7% y/y. In terms of commodity dissemination, the volume of machinery and transport equipment, which is the leading commodity group, was up by 16.8% y/y and 15.1% y/y in exports and imports, respectively, for the first five months of the year. The export of manufactured goods surged by 20.4%, and the imports climbed by 17.1% in Jan-May. The fuels and electric energy group was the single item that witnessed annual drop in trade volumes as exports were down 5.2% y/y and imports decreased by 3.3% y/y in Jan-May 2011.

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