Trade surplus EUR 1 billion in May

Written by BT/MTI

Hungary’s trade balance in May posted a surplus of 1.0 billion euros, deteriorating by 218 million euros from the previous year, the Central Statistical Office (KSH) said in a second reading of data on Thursday.

Exports fell by an annual 8.6 percent to 11.9 billion euros, while imports slipped 7.7 percent to 10.9 billion euros, KSH said.

In volume terms, exports fell by an annual 5.8 percent, and imports by 5.0 percent.

Month on month, export volume was down a seasonally and working-day adjusted 3.1 percent, while imports were up 1.6 percent.

Hungary’s terms of trade deteriorated 0.2 percent during the period as the forint weakened by 4.0 percent against the euro and 4.6 percent to the dollar.

For the period January-May, Hungary had a trade surplus of 6.6 billion euros. Exports fell by 4.8 percent to 61.0 billion euros and imports declined by 11.4 percent to 54.4 billion euros.