Hungary's December Trade Surplus Revised Down To Eur 393 Million

  • 5 Mar 2019 7:25 AM
  • Hungary Matters
Hungary's December Trade Surplus Revised Down To Eur 393 Million
Hungary’s 2018 December trade surplus was revised downwards to 393 million euros in a second reading of data released by the Central Statistical Office (KSH).

In the first reading, published on February 8, KSH had put the December surplus at 398 million euros. Imports rose by an annual 5.3% in value terms to 7.265 billion euros. Exports were up 2.5% at 7.658 billion euros. The trade surplus was down 178 million euros from the same month a year earlier.

Trade with other European Union member states accounted for 80% of Hungary’s exports and 74% of the country’s imports. Hungary had a trade surplus of 717 million euros with EU countries and a trade deficit of 324 million euros with the rest of the world.

Hungary’s terms of trade worsened by 1.0% in December as import prices rose by 4.0% and export prices by only 3.0% in forint terms. The forint weakened 3.1% to the euro and strengthened 1.5% to the dollar during the period.

In the full year of 2018, Hungary’s trade surplus reached 5.557 billion euros, down from 8.078 billion in the same period a year earlier. Imports were up by 7.3% at 99.327 billion euros and exports rose by 4.2% to 104.885 billion euros.

Commenting on the data, Péter Szijjártó, the foreign affairs and trade minister, told public news channel M1 that Hungary’s export volume last year was a testament to the hard work of the Hungarian people. He attributed the country’s import volume to last year’s record-breaking investments.

Hungary is attracting more and more investors, more and more factories are being built and being used by international corporations to produce goods to be exported, the minister said.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungary Gross Wages Climb 10.7% In July

    Hungary Gross Wages Climb 10.7% In July

    • 1 Oct 2019 7:46 AM

    The average gross monthly wage for full-time workers in Hungary rose by an annual 10.7% to 362,595 forints (EUR 1,079) in July, the Central Statistical Office (KSH) said. Net wages grew at the same pace, reaching 241,126 forints.

  • Hungary’s Inflation Falls To 3.1% This August

    Hungary’s Inflation Falls To 3.1% This August

    • 12 Sep 2019 6:31 AM

    Hungary’s annualised consumer price index stood at 3.1 percent in August, down from 3.3 percent in the previous month, the Central Statistical Office (KSH) said on Tuesday.

  • Hungary Q2 GDP Climbs 4.9%

    Hungary Q2 GDP Climbs 4.9%

    • 1 Sep 2019 7:20 AM

    Hungary’s second-quarter GDP rose by 4.9% year-on-year, the Central Statistical Office (KSH) confirmed in a second reading of data.