Tourists in Budapest – Photo: wikipedia

Hungary services surplus at EUR 2.375 billion in Q1

Hungary's trade of services posted a 2.375 billion euro surplus in the first quarter, the Central Statistical Office (KSH) said on Wednesday.

Exports of services increased by an annual 12.6 percent to 7.240 billion euros. Imports of services rose by 5.9 percent to 4.865 billion.

The surplus in tourism services reached 634 million euros, the surplus for logistics services 862 million and the surplus for business services 405 million.

Trade with other European Union member states accounted for 64 percent of Hungary’s service exports and 71 percent of its service imports in Q1.

Hungary’s biggest partner in trade of services was Germany, accounting for 19 percent of turnover. The United States was runner-up, with a 9 percent share, followed by Austria with 8 percent.

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