Hungary’s detailed foreign trade stats have confirmed news of a massive surplus in October in accordance with the preliminary report. The October surplus totalled EUR 408 million, which boosted the aggregate figure for the first 10 months of this year to EUR 4.44 billion. Despite a minor decline in export volume in October, the figure is still close to the corresponding 2008 value.
According to detailed Central Statistics Office data, Hungary’s foreign trade surplus was a hulking EUR 4.44 billion in the first 10 months of this year. October alone accounted for EUR 408 million, which is lower than September’s record crop of EUR 540 million. In sum, the national economy is still in a state of adjustment on a major scale.
Compared with the October 2009 report, exports jumped 16.3% while imports soared 18.3%; that is, the export-import gap has once again dropped into the negative range. Reasons for this may include a surge in domestic demand in Hungary and more intense demand for materials and machinery imports by Hungarian manufacturers supplying foreign markets.
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