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KSH: HUNGARY MAY TRADE SURPLUS REVISED DOWN TO EUR 674 M

 

Hungary’s May trade surplus was revised slightly down to 674 million euros in a second reading of data released by the Central Statistical Office (KSH). In the first reading, published on July 9, KSH had put the May surplus at 678 million euros. Revised figures show imports rose by an annual 2.8% in value terms to 8.760 billion euros. Exports were up by 4.6% at 9.435 billion euros. The trade surplus narrowed by 181 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 499 million euros with the rest of the world. The surplus with the EU rose by 425 million euros and the deficit with countries outside the EU increased by 244 million euros from a year earlier. Hungary’s terms of trade were unchanged in May as both import and export prices rose by 2.5% in forint terms. The forint weakened 2.7% to the euro and 8.6% to the dollar in the period. In January-May, Hungary’s trade surplus reached 2.772 billion euros, down from 3.123 billion euros in the same period a year earlier. January-May imports were up by 6.5% at 43.279 billion euros and exports rose by 5.2% to 46.051 billion euros.