Hungary's trade surplus in October exceeds 500 mln euros

Source: Xinhua| 2019-12-10 04:45:03|Editor: Mu Xuequan
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BUDAPEST, Dec. 9 (Xinhua) -- Hungary had a trade surplus of 514 million euros (568 U.S. dollars) in October, the Central Statistics Office (KSH) said on Monday.

"Exports rose 6.7 percent year-on-year to 10.086 billion euros, while imports were up 3.6 percent at 9.572 billion euros," the KSH said in a statement.

Trade with other European Union (EU) member states accounted for about 80 percent of exports and 74 percent of imports, according to the KSH.

"For the first ten months of 2019, exports were up 4.8 percent annually at 91.980 billion euros, and imports rose 5.5 percent to 87.578 billion euros. The trade surplus for the period stood at 4.402 billion euros," said the statement.

Online financial journal Portfolio said the data illustrated a "turning point in the foreign trade balance."

"Over the past three months, the worsening trend in the trade balance has come to a halt and has even been able to grow substantially," Portfolio explained. (one euro currently equals to 1.11 U.S. dollars)