Hungary's exports rise 13.4% in June

Hungary's exports and imports rose 13.4 percent and 8.9 percent respectively year-on-year in June, the Hungarian Central Statistical Office said Monday.

Exports amounted to 8 billion euros (8.77 billion U.S. dollars) and imports to 7.2 billion euros in June. The surplus on the trade balance was 820 million euros, 362 million euros higher than in the same month last year. The share of European Union member states was 79 percent both in exports and imports.

In the first six months of this year, the value of exports was 45.2 billion euros and that of imports 40.9 billion euros. Exports and imports were up by 7.9 percent and 5.8 percent respectively compared to a year earlier. The surplus on the trade balance was 4.3 billion euros, 1.1 billion euros higher than in the same period last year.

National Economy Ministry State Secretary Bela Glattfelder told M1 public television on Monday that Hungary may achieve a record trade surplus this year.

The foreign trade data for the first half of this year shows that Hungary excels in the international markets, he said, adding that the country has greatly improved its competitiveness and its exports expand more rapidly than its imports.

Glattfelder pointed out that the international trade environment was very favorable for Hungary. The very low oil price will allow the strong demand for Hungarian products to remain in the second half of this year, he added.

The growing trade surplus will allow Hungary's external debt to be significantly reduced than expected this year, Glattfelder stated.