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MARCH TRADE SURPLUS REVISED DOWN TO EUR 644 M

 

Hungary had a 644 million euro trade surplus in March, the Central Statistical Office (KSH) said in a second reading of data. The surplus was revised downward from 677 million euros in a first reading released on May 9.
Imports rose by an annual 5.9% to 9.029 billion euros. Exports were up 4.9% at 9.673 billion euros. The trade surplus narrowed by 54 million euros from the same month a year earlier.
Trade with other European Union member states accounted for 82% of Hungary’s exports and 75% of the country’s imports. Hungary had a trade surplus of 1.2 billion euros with EU countries and a trade deficit of 520 million euros with the rest of the world.
Hungary’s terms of trade worsened by 0.4% in March as import prices rose by 2.5% and export prices by only 2.1% in forint terms. The forint weakened by 1.1% to the euro and 10% to the dollar in the period.
For the period January-March, Hungary’s trade surplus reached 1.853 billion euros, down from 2.147 billion euros in the same period a year earlier. Imports were up by 7.6% at 25.883 billion euros and exports rose by 5.9% to 27.736 billion euros.