MENU
Hungarian foreign trade balance 20104-16 | source: portfolio.hu

Record foreign trade surplus in Hungary

D&T
July 8, 2016

The volume of exports in euro terms was up 6.3% in May 2016, while imports grew 2.4% compared to the same month of the previous year, the Central Statistics Office (KSH) is quoted by portfolio.hu. The foreign trade surplus was EUR 755 mn, setting a new record.

According to the financial website portfolio.hu, Hungarian exports totaled EUR 7.6 bn (HUF 2,386 bn) in May, while imports were worth EUR 6.9 bn (HUF 2,148 bn), resulting in a surplus of EUR 755 mn (HUF 238 bn). The share of EU member states was 81% in exports and 77% in imports.

The lower growth in imports comes on the heel of similar data in April and May. Low imports are of course favorable to the foreign trade balance, but the underlying reasons are not yet obvious. Internal consumption remains strong, so it is presumably re-exports or imports aimed at investments that are behind on growth.

D&T

No comment yet. Be the first!

Leave a Reply

Your email address will not be published. Required fields are marked *

16 − eleven =

  • Top 5 Articles


  • Articles by Date

  • Hashtags

  • © Copyright 2019 Duax Kft. –  All rights reserved.
    searchenvelope-oalign-justifytwitterfacebookfeedinstagrammoon-osunearth