Hungary’s 2018 December trade surplus has been revised downwards to 393 million euros in new data released by the Central Statistical Office (KSH).
In the first reading, published on February 8th, KSH had put the December surplus at 398 million euros, but the revision is still good news for Hungary’s economy.
According to MTI, imports rose by an annual 5.3 percent in value terms to 7.265 billion euros. Exports were up 2.5 percent at 7.658 billion euros. The trade surplus was down 178 million euros from the same month a year earlier.
Péter Szijjárto, Minister of Foreign Affairs and Trade, said Hungary’s export volume last year was a testament to the hard work of the Hungarian people. He attributed the country’s import volume to last year’s record-breaking investments.
The minister said Hungary is attracting more and more investors, more and more factories are being built and being used by international corporations to produce goods to be exported. Last year’s record export volume will allow companies present in Hungary to add more jobs and increase wages, along with increasing their value added, which will in turn help Hungary enter “a new dimension” of economic development, he added.