Exports Lower In December In Hungary

  • 16 Feb 2012 8:00 AM
Exports Lower In December In Hungary
"Exports were down 0.9% year-on-year in December, in euro terms, while imports went up 0.1%, according to preliminary data from the Central Statistics Office. The trade surplus fell to €352.1 million from €413.6 million one year earlier.

The surplus was €6.956 billion for the whole year of 2011, a 26% increase from the €5.515 billion in 2010.

“The December trade surplus was below forecasts, in line with the slowdown in industrial output,” observed analyst Gergely Suppan of Takarekbank.

“The trade surplus might exceed €8 billion in 2012, not because of expanding exports but because imports will fall, due to the austerity measures and postponement of fixed capital investments,” said Erste Bank analyst Zoltan Arokszallasi."

Source: Hungary Around the Clock

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