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Financial News: Hungary Exports Growth Slows; Average Gross Wages Rise

Hungary Exports Growth Slows; Average Gross Wages Rise

01/31/2020 - 07:09:00 (RTTNews)

(RTTNews) - Hungary's exports grew at a softer pace in November, and average gross wages increased, data from the Hungarian Central Statistical Office showed on Monday.

Exports rose 1.1 percent year-on-year in November, slower than 8.0 percent increase in October.

Imports increased 2.4 percent annually in November, after a 7.1 percent rise in the preceding month.

On a calendar adjusted basis, exports and imports rose 2.9 percent and 4.9 percent, respectively.

The trade surplus increased to EUR 484 million in November from EUR 479 million in the previous month. In the same month last year, the trade surplus was EUR 440 million.

Separate data from the statistical office showed that the average gross earnings increased 13.9 percent in November after an 11.6 percent gain in October. Economists had expected the rate to improve to 11.2 percent.

Average net earning excluding tax benefits grew 13.9 percent annually in November.

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