Retail Sales Return to Growth in Hungary
- 7 Mar 2024 6:10 AM
- Hungary Matters
Retail sales in Hungary edged up by an annual 0.6% in January, growing for the first month in a little more than a year, the Central Statistical Office (KSH) said.
Retail sales also rose by 0.6% when adjusted for calendar year effects. Adjusted food sales edged up by 0.2%, while non-food sales slipped by 0.9%. Vehicle fuel sales were 4.6% higher.
A detailed breakdown of the data shows adjusted retail sales rose at supermarkets, drugstores and pharmacies, petrol stations and webshops, but fell at other shops. Retail sales were flat in a month-on-month comparison.
In absolute terms, retail sales came to 1,356 billion forints (EUR 3.4bn) in January. Food sales accounted for 49% of the total, non-food sales for 35% and sales at petrol stations for 16%.
Commenting the fresh data, the national economy ministry said it indicated that retail sales had passed the low point and were “in the recovery phase”.
Full report available here
Meanwhile, Hungary Reports Euro 497 Million Trade Surplus in January
Hungary had a 497 million euro trade surplus in January, after the balance turned negative for the first time in almost a year in December, a first reading of data released by the Central Statistical Office (KSH) shows.
Exports fell by an annual 7.4% to 11.422 billion euros. Imports dropped by 14.3% to 10.925 billion euros. Trade with other European Union member states accounted for 78% of Hungary’s exports and 70% of its imports during the month.
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