OREANDA-NEWS. November 10, 2016. Based on figures to date, Hungarian exports may this year break last year’s record value, Tam?s Menczer, the press chief of the Ministry of Foreign Affairs and Trade said on the public service television news channel M1 upon commenting on the latest data released by the Hungarian Statistical Office.

According to the first estimate of the Central Statistical Office (CSO) published on Wednesday, the value of exports denominated in EUR increased by 1.9 per cent, while imports decreased by 0.2 per cent in September compared with the corresponding period in the year before. The surplus of exports increased by EUR 175 million, and exceeded one billion euros for the second time this year after June, amounting to EUR 1.040 billion. In the first three quarters, exports increased by 2.9 per cent, while imports increased by 1.2 per cent compared with last year’s corresponding period. The surplus increased by EUR 1.221 billion to EUR 7.676 billion.

Mr Menczer said: Hungarian exports increased in six months out of the first nine, remained at the same level in one month, and only declined in two months compared with the corresponding periods of the previous year.

The latest September data, too, indicates that businesses are able to use their foreign trade revenues for the preservation of jobs, the creation of new jobs and innovation, the press chief added.

He highlighted: foreign trade is one of the important indicators that is scrutinised by credit rating agencies, and the development of the country’s foreign trade balance, too, played a part in the fact that all three international credit rating institutions have upgraded Hungary this year.

The Government made the right decision when it placed foreign trade at the centre of its foreign affairs activities, Mr Menczer remarked.