The revised full-year surplus still amounts to a sharp turnaround from a EUR 319m deficit recorded in 2008 as the recession cut Hungary's imports more than its exports.

    The December surplus was down from a revised EUR 429m surplus in November and compares to a EUR 82m deficit in December 2008.

    In volume terms, exports rose a sharp 14.8pc yr/yr in December after a 4.2pc yr/yr rise in November and imports volume was 6.6pc in twelve months after a 1.7pc rise in November.

    For the full year, export volume fell 12.2pc and import volume fell 17.0pc from 2008. In 2008, export volume rose 4.2pc and import volume rose 4.3pc.
In euro terms, December exports rose 8.8pc yr/yr to EUR 4.881bn and December imports, at EUR 4,505bn, were down 1.3pc from the same month of 2008, both unchanged from the preliminary. In euro terms, exports rose for the first time yr/yr since September 2008, and import contraction slowed further, both from a low base.
For the full year of 2009 exports fell 18.9pc in euro terms, slightly more than the prelimninary 18.7pc, and imports were down 24.7pc, less than the 25.2pc decline in the first reading.

    In 2008, exports rose 6.3pc in euro terms and imports rose 6.6pc. In euro terms, Hungary's exports rose by double-digit rates between 2004 and 2007 and imports rose at double-digit rates in 2006-2007.

    Hungary's terms of trade improved 1.8pc last year as export prices rose 3pc in forint terms and import prices rose 1pc, KSH said. Terms of trade deteriorated 1.7pc in 2008 and slipped a slight 0.1pc in 2007.

    The forint weakened almost 13pc against the main currencies of trade from 2008, including a 12pc drop against the euro and a 18pc weakening against the US dollar.

    External trade prices in foreign currency terms fell around 10pc in 2009 from the previous year, KSH said.