Hungary Posts Eur 374 M Oct Trade Surplus
- 9 Dec 2014 3:00 AM
Hungary posted a trade surplus of 373.8 million euros in October, based on preliminary data, down 322 million euros from October last year, the Central Statistical Office (KSH) said. Exports fell by 2.1% to 7.512 billion euros while imports rose by 2.3% at 7.139 billion.
In Jan-Oct, the trade surplus came to 5.4 billion euros, down 217 million from the same period last year.
Exports rose by 3.6% to 70 billion euros and imports were up 4.2% at 65 billion. Fully 80% of Hungary’s exports went to other European Union countries in October and 73% of imports came from the EU.
Analysts told MTI that the October trade surplus had fallen behind expectations, which several observers attributed to a decline in industrial output, which slowed down exports.
Péter Fazekas of Buda-Cash Brókerház said the October surplus was only about half of the 700 million euros he had estimated. It is the lowest monthly surplus since 2008, he added.
Dávid Németh of K&H Bank said the fresh data clearly show a slowdown in foreign trade.
Source www.hungarymatters.hu
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