Hungary Trade Surplus Shrinks On Weaker Exports

(RTTNews) - Hungary's foreign trade surplus contracted significantly in July compared with the same month last year, reflecting declining exports and rising imports, data from the Hungarian Central Statistical Office showed on Friday.

The trade surplus dropped to EUR 69 million in July from EUR 503 million in the corresponding month last year. In June, the surplus was EUR 1.2 billion.

The volume of exports fell a calendar-adjusted 1.6 percent year-over-year in July, while imports increased by 3.1 percent.

Machinery and transport equipment exports increased 3.2 percent, though imports of these goods jumped 13.0 percent. Outflows of manufactured goods fell 4.2 percent, and those of fuels and electric energy contracted 29 percent.

Separate official data showed that the unemployment rate in Hungary rose to 4.6 percent in the May-July period from 4.5 percent in the April-June period. There were 225,000 unemployed people compared to 218,200 in the previous period.