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Financial News: Hungary Trade Balance Swings To Deficit

Hungary Trade Balance Swings To Deficit

06/02/2022 - 04:47:00 (RTTNews)

(RTTNews) - Hungary's trade balance swung to a deficit in March from a surplus a year ago, as initially estimated, final data from the Hungarian Central Statistical Office showed on Thursday.

The trade balance logged a deficit of EUR 708 million in March versus a surplus of EUR 851 million in the same month last year. In the initial estimate, the trade deficit was EUR 503 million.

On a yearly basis, exports increased 8.8 percent in March, after an 18.7 percent growth in February. According to the initial estimate, exports rose 8.7 percent.

Imports rose 24.7 percent annually in March, after a 30.5 percent increase in the preceding month. In the initial estimate, imports gained 22.6 percent.

On a month-on-month basis, exports and imports declined 6.4 percent and 4.4 percent, respectively.

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