Financial News: Hungary Trade Balance Swings To Surplus In March

Hungary Trade Balance Swings To Surplus In March

05/09/2023 - 06:13:00 (RTTNews)

(RTTNews) - Hungary's trade balance turned to a surplus in March from a deficit in the previous year, as exports rose much faster than imports, preliminary data from the Hungarian Central Statistical Office showed on Tuesday.

The trade balance logged a surplus of EUR 899 million in March versus a deficit of EUR 820 million in the corresponding month last year.

In February, there was a surplus of EUR 581 million.

Exports climbed 16.0 percent year-over-year in March, while imports grew at a slower pace of 2.1 percent.

The share of EU member states was 78 percent in exports and 69 percent in imports, the agency said.

On a monthly basis, both exports and imports increased by 11.0 percent and 8.5 percent, respectively.

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