Foreign trade surplus in services was 3.5 billion euros in the third quarter

By: Trademagazin Date: 2024. 11. 29. 11:57

In the third quarter of 2024, exports of services in euros exceeded the same period of the previous year by 4.2 percent and imports by 1.9 percent. The surplus was 3.5 billion euros, 280 million euros more than in the third quarter of 2023, and also surpassed the record value for the same period of the previous year, the Central Statistical Office (KSH) reported on Friday.

The value of exports exceeded the previous quarter by 13 percent, imports by 7.9 percent, and the surplus by 631 million euros, the KSH added.

The value of exports of services was 9.8 billion euros (3.9 thousand billion forints) in the third quarter, imports by 6.2 billion euros (2.5 thousand billion forints).

Among the service groups, tourism contributed 1,533 million euros, transport services 784 million, and business services 621 million euros to the surplus.

Hungary exported 68 percent of its services exports and 74 percent of its imports to the European Union, generating a surplus of 2.0 billion euros.

The most important partner remained Germany, which accounted for 20 percent of total trade. Austria came in second place, and the United States came in third, accounting for 7.8 and 7.6 percent of services trade, respectively, the Central Statistical Office (KSH) announced.