Hungary’s Exports Growing Again, Trade Surplus Reaches Euro 4.5+ Billion

  • 24 Dec 2020 8:22 AM
Hungary’s Exports Growing Again, Trade Surplus Reaches Euro 4.5+ Billion
Hungary’s exports edged up 0.1% year-on-year to 10.190 billion euros in October, growing for the second month in a row after contracting since the start of the pandemic, a second reading of data released by the Central Statistical Office (KSH) shows.

Imports declined 5.1% to 9.296 billion euros during the period. The trade surplus came to 894 million euros.

Hungary’s surplus in trade of machinery and vehicles reached 1.367 billion euros and its surplus of trade in food, drink and tobacco products stood at 173 million euros.

It had a 404 million euro deficit in trade of manufactured goods and a 271 million deficit in trade of energy.

Terms of trade improved 2.0% as the forint weakened 9.3% to the euro and 2.7% against the dollar.

Trade with other European Union member states accounted for 77% of Hungary’s exports and 71% of imports during the month.

For the period January-October, Hungary’s exports fell by 6.8% to 85.811 billion euros and imports declined by 7.9% to 81.252 billion euros. 

The trade surplus reached 4.559 billion euros.

Click here to read the full report on Central Statistical Office's website

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