World Economy

Hungary Records Trade Surplus

Hungary Records Trade SurplusHungary Records Trade Surplus

Hungary’s exports increased by 5.1% and imports decreased by 1.9% in April in euro terms compared to the same month of the previous year, Portfolio reported. In light of this it is no wonder that the trade surplus climbed by almost €1 billion ($1.14 billion). The €959 million April surplus is the third-biggest the country has seen so far. The high trade surplus is no surprise since industrial production finally took off in April, which tends to be followed by a similar reaction by exports. The pattern is different, though, in a sense that the 5.1% export rise is not exactly robust. The massive surplus also had at least this much to do with the fact that imports dropped 1.9%, although the base was high. The seasonally adjusted data show that imports are slightly ebbing, whereas exports may start rising again. The April trade surplus is €527 million higher than in the base period.