Hungary's trade surplus approaches 10 bln euros in 2016

Hungarian trade surplus reached 9.978 billion euros (10.57 billion U.S. dollars) in 2016, after a surplus of 8.595 billion euros in 2015, Hungarian Central Statistical Office KSH reported Thursday in a preliminary estimate.

In 2016, exports grew by 3.1 percent to 93.274 billion euros, whereas imports grew by 1.7 percent to 83.295 billion euros, KSH said.

"In 2016, the Hungarian economy produced its highest ever export and trade surplus figures," Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto told Hungarian News Agency MTI.

A trade surplus of 10 billion euros has never been achieved in the history of Hungarian economy, Szijjarto said.

"These figures prove that Hungary was able to stay competitive even within the rapidly evolving conditions of world economy and global politics," he added.

In December 2016, compared to a year earlier, exports increased by 7.7 percent to 7.3 billion euros and imports grew by 9.9 percent to 6.7 billion euros. The trade surplus was 556 million euros, 82 million less than in 2015.

In December, 75 percent of the exports, and 76 percent of the imports were conducted with the other countries of the European Union, KSH added. (1 euro = 1.07 U.S. dollars) Enditem