Szijjarto: Hungary exports hit record highs in Jan-May

Speaking on the sidelines of a cabinet meeting, Peter Szijjarto said that exports were key to Hungary’s economic performance, as the country is “extremely deeply integrated into world economy”.

Exports usually come to 80 percent of Hungary’s GDP, he said. The stronger the sector’s performance, the likelier that Hungarian economy continues growing, he said.

Last year, exports hit 142 billion euros, and data show that that was surpassed in the first five months of this year, he said. “This augurs the highest ever export performance by the end of the year,” he said.

“Meanwhile, imports only grew by 2 percent, turning the country’s trade balance positive after a setback due to growing energy prices last year,” he said.

The data shows the competitiveness of Hungary’s economy, he said. This is good news … [suggesting] that we will be able to maintain economic growth in Hungary,” he said.