KSH: The service foreign trade surplus was 2.7 billion euros in the second quarter

By: Trademagazin Date: 2023. 08. 30. 11:54

In the second quarter, exports of services calculated in euros increased by 6.7 percent and imports by 0.8 percent compared to the same period of the previous year. The asset was 2.7 billion euros, 451 million euros more than in the second quarter of 2022, and slightly exceeded the previous record, the Central Statistical Office (KSH) reported on Wednesday.

Compared to the previous quarter, the value of exports increased by 8.4 percent, that of imports by 5.2 percent, and the surplus was 354 million euros higher.

In the second quarter, the value of exports was 7.8 billion euros (2.9 thousand billion forints), and that of imports was 5.1 billion euros (1.9 thousand billion forints).

Among the service groups, transport services contributed EUR 918 million and tourism EUR 907 million to the asset.

Hungary handled 62 percent of service exports and 71 percent of imports with the member states of the European Union, in this respect a surplus of 1.3 billion euros was generated.

The most important partner is still Germany, which accounted for 20 percent of the total turnover. The United States of America is in second place, and Austria is in third place, with 9.0 and 7.5 percent of trade in services, respectively.