Strong Growth in Hungary’s Trade Surplus
Hungary Reports 1.7 Billion Euro Trade Balance Surplus in April
The Central Statistical Office (KSH) of Hungary has released new data showing a trade balance surplus of 1.7 billion euros in April. This figure represents an expansion from the 1.6 billion euro surplus reported in March.
According to the KSH report, exports in April rose by 9.2 percent on an annual basis, reaching 12.5 billion euros. In contrast, imports during the same period decreased by 2.9 percent to 10.8 billion euros.
Notably, the volume of exports to the EU-27 Member States saw an increase of 11%, while imports from these countries rose by 12%. The trade balance of Hungary’s external trade in goods saw an improvement of 16 million euros, resulting in a surplus of 1.4 billion euros. Trade with other European Union member states accounted for a significant portion of Hungary’s exports and imports, with 76 percent and 75 percent, respectively.
The report also highlights that Hungary’s terms of trade improved by 1.7 percent in April. This improvement was attributed to the weakening of the forint by 4.4 percent against the euro and 6.8 percent against the dollar.
For the period of January-April, Hungary reported a trade surplus of 5.6 billion euros. Exports saw a decline of 3.9 percent to 49.0 billion euros, while imports dropped by 12.3 percent to 43.4 billion euros.
Overall, the latest data from the KSH indicates a positive trend in Hungary’s trade balance, with continued growth in exports and a narrowing gap between imports.
