December Surplus Raises Hungary’s 2009 Trade Surplus to EUR 4.57 Billion

According to the first reading of the Central Statistics Office, published on Tuesday, Hungary had a EUR 375 million trade surplus in December, which means that the trade surplus for 2009 amounts to EUR 4.57 billion. 

Exports increased for the first time since September 2008, and import volumes shrank at a slower speed than before. Ignoring December, from January to November 2009, the volume of exports and imports fell by 13 and 19 pct, respectively, compared to the same period of the preceding year. Trade balance in that period showed a surplus of HUF 1,184 billion (EUR 4,194 million), which meant an improvement of HUF 1,222 billion (EUR 4,432 million) compared to the deficit of HUF 38 billion (EUR 238 million) in January–November 2008. In December the European Union had a 77 pct share in Hungary's imports and a 65 pct share in Hungary's exports, the office said.

News Monitoring