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Financial News: Hungary Trade Balance Swings To Deficit

Hungary Trade Balance Swings To Deficit

05/09/2022 - 05:50:00 (RTTNews)

(RTTNews) - Hungary's trade balance swung to a deficit in March, as the increase in imports exceeded the exports growth, data from the Hungarian Central Statistical Office showed on Monday.

The trade balance registered a deficit of EUR 503 million in March versus a surplus of EUR 851 million in the same month last year. Economists had forecast a deficit of EUR 225 million.

In February, the trade deficit was EUR 117 million.

On a yearly basis, growth in exports eased sharply to 8.7 percent from 18.7 percent in February.

Imports rose 22.6 percent annually in March, after a 30.5 percent growth in the preceding month.

On a month-on-month basis, exports and imports rose 5.4 percent and 8.7 percent, respectively.

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