KSH: The foreign trade surplus in services was 2.7 billion euros in the fourth quarter

Compared to the previous quarter, the value of exports was 11 percent less, and that of imports was 4.9 percent less, which means a balance decrease of 819 million euros, the KSH added.

In the fourth quarter of last year, the value of exports was 8.8 billion euros (3.6 thousand billion forints), and that of imports was 6.2 billion euros (2.5 thousand billion forints). The surplus of foreign trade in services amounted to 2.7 billion euros (1.1 thousand billion forints).

Among the service groups, tourism contributed 833 million euros, transport services 653 million, and business services 641 million euros to the surplus.

Hungary exported 64 percent of its services and 74 percent of its imports to the European Union, resulting in a surplus of 1.1 billion euros.

Germany remained the most important partner, accounting for 20 percent of total trade. The United States came in second and Austria third, accounting for 8.1 and 7.1 percent of trade in services, respectively.