Hungary's June Trade Surplus Beats Forecasts

  • 13 Aug 2012 9:00 AM
Hungary's June Trade Surplus Beats Forecasts
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

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