Hungary’s trade balance returns to surplus in December – UPDATE

Hungary’s trade balance returned to a surplus in December, a first reading of data released by the Central Statistical Office (KSH) on Tuesday shows.

Hungary has had trade deficits every month since July. In December, the trade balance showed a surplus of 187 million euros.

Exports rose by an annual 19.6 percent to 10.090 billion euros, while imports grew by 21.4 percent to 9.903 billion.

Trade with other European Union member states accounted for 74 percent of Hungary’s exports and 73 percent of its imports.

In the full year, exports increased by 13.7 percent to 119.390 billion euros, while imports increased by 17.7 percent to 116.999 billion. The full-year trade surplus was 2.391 billion, narrowing from 5.618 billion in 2020.

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Takarékbank analyst Gergely Suppán told MTI that export growth was supported by an improvement in industrial output.