Hungarys foreign trade balance keeps expanding.

By bne IntelliNews December 10, 2010
Hungary's external trade posted a EUR 408.1mn surplus in October, up by 7.6% y/y, preliminary figures from the statistics office showed. The improvement of the country's foreign trade position slowed down in the month after imports accelerated, while exports slowed down in comparison to the preceding month, suggesting recovery of domestic demand. Imports growth stayed flat at 18.3% y/y, reaching EUR 6.11bn. Exports on the other hand increased by 16.3% y/y to 6.52bn in October, decelerating from 18.3% y/y the previous month. In cumulative terms, the foreign trade surplus surged by 49 y/y to EUR 4.44bn for the January-October period, slowing down from a 59.2% y/y growth in January-September. Imports rose by 19.2% y/y to EUR 54.23bn, down from 21.6% y/y for the nine-month period. Exports performed better, speeding up by 21% y/y to EUR 58.67bn in January-October, after being up by 19.3% y/y in January-September.

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