Hungary's June Trade Surplus Beats Forecasts
- 13 Aug 2012 9:00 AM
The trade surplus grew to €761.7 million in June, from €570.8 million one year earlier, according to preliminary data from the Central Statistics Office. Exports saw 5.6% growth, to €6.9 billion, while imports were 3% higher, at €6.1 billion.
The trade surplus for the first half expanded to €3.6 billion from last year’s €3.8 billion, the result of €40.0 billion in exports and €36.4 billion in imports.
In the first half, exports went up 0.2% and imports increased 0.9%.
The higher surplus than forecast is due to faster export growth than seen in months, observed analyst Orsolya Nyeste of Erste Bank.
The trade surplus was lower in the first quarter than one year earlier but higher in the second, she noted. If this trend continues, Nyeste continued, then this year’s trade surplus may be higher than last year’s, and could reach €7.5 billion.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
LATEST NEWS IN business