Recession hit Hungary reports trade surplus

BUDAPEST: Recession-hit Hungary achieved a trade surplus of 6.93 billion euros ($9.3 billion) in 2012, similar to a surplus of 7.06 billion euros in 2011, provisional official data showed on Friday.

Exports rose by 3.8 percent in the year and imports rose by 4.0 percent.

For the month of December, the balance showed a surplus of 192.3 million euros, down from 300.5 million euros 12 months earlier.

A trade surplus contributes to national economic growth whereas a deficit tends to reduce it.