Hungary Trade Surplus Reaches 556 M Euros In Dec
- 10 Feb 2017 6:10 AM
Hungary posted a trade surplus of 556 million euros in December, narrowing by 82 million euros from the same month a year earlier. Exports climbed by 7.7% to 7.284 billion euros. Imports were up by 9.9% at 6.728 billion euros, the Central Statistical Office (KSH) said.
The trade surplus for the full year came to 9.978 billion euros, up by 1.383 billion euros from 2015. Exports increased by 3.1% to 93.274 billion euros and imports rose by 1.7% to 83.295 billion euros.
Takarékbank analyst Gergely Suppan said a pickup in domestic investments and higher oil prices would probably cause the trade surplus to narrow to 8.6-8.8 billion euros this year.
Erste Bank chief analyst Gergely Ürmössy also said rising investment activity and higher consumption would boost imports this year, while a temporary shutdown of some automotive industry capacity could weigh on exports, causing the trade surplus to fall.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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