Export surplus continued to increase in August

The value of exports in euros increased by 12.5 percent, while the value of imports in euros increased by 10.9 percent in August, compared to the previous year. The export surplus increased by 147 million euros to 591 million euros – the Central Statistical Office (KSH) announced its second estimate on Friday.

The data was influenced by the fact that in August 2016 three more working days occured than a year before. The August data shows a significant upturn after the July decline. In the first estimate released three weeks ago, the Central Statistical Office indicated a 0.1 percentage points lower 10.8 percent import growth, so the surplus became 10 million euros higher.