Tourists in Budapest – Photo: wikipedia

Services surplus at EUR 2.729 billion in Q2

Hungary's trade of services posted a 2.729 billion euro surplus in the second quarter, the Central Statistical Office (KSH) said on Wednesday.

The surplus widened by 451 million euros from a year earlier.

Exports of services increased by an annual 6.7 percent to 7.848 billion euros. Imports of services edged up by 0.8 percent to 5.119 billion.

Quarter-on-quarter, exports increased by 8.4 percent, imports were up by 5.2 percent and the surplus expanded by 354 million euros.

The surplus in tourism services reached 907 million euros and the surplus for logistics services 918 million.

Trade with other European Union member states accounted for 62 percent of Hungary’s service exports and 71 percent of its service imports in Q2.

Hungary’s biggest partner in trade of services was Germany, accounting for 20 percent of turnover. The United States was runner-up, with a 9 percent share, followed by Austria with 7.5 percent.

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