Hungary Dec trade surplus EUR 456.9 m

Budapest, February 9 (MTI) – Hungary posted a trade surplus of 456.9 million euros in December, the first reading showed, after a surplus of 651.9 million in November, the Central Statistical Office said on Wednesday.

The trade balance was in surplus by 301.3 million euros a year earlier. KSH said.

    Exports in euro terms rose by an annual 21.4 percent, while imports were up by 19.4 percent in December.

    In the full year of 2010, the trade account was 5.55 billion euros in the black, up from 3.74 billion in 2009.

    Erste Bank analyst Zoltan Arokszallasi said he had expected the surplus to be 420 million euros, and the healthy data indicate the unexpected drop in industrial output in December was a blip. (Industrial output dropped 11.8 percent in December compared to the previous month.)

    Arokszallasi said he expected the full-year trade surplus to be between 4.5 and 5 billion euros in 2011, less that the 5.5 billion surplus in 2010.

    TakarekBank’s Gergely Suppan said the 21 percent rise in exports in December came as a pleasant surprise after the poor industrial output data. For the whole of 2011, he expected the surplus to be between 5.7 and 5.8 billion euros.

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