More bad news for the Hungarian economy: both domestic trade and imports have fallen

Hungary’s trade surplus was at 366 million euros in April, narrowing from 886 million in March, the Central Statistical Office (KSH) said on Monday.

According to KSH, exports rose by an annual 2.2 percent to 11.350 billion euros, slowing sharply after a year of double-digit growth. Imports decreased by 5.6 percent to 10.984 billion euros, falling for the first time in over two years.

Hungary’s terms of trade improved by 3.6 percent as the forint edged down 0.2 percent against the dollar but firmed 1.1 percent to the dollar.

Trade with other European Union member states accounted for 78 percent of Hungary’s exports and 69 percent of its imports during the month.

In January-April, Hungary’s exports increased by an annual 12.0 percent to 50.536 billion euros, while imports rose by 4.6 percent to 49.116 billion euros. The trade surplus reached 1.420 billion euros.

As we wrote today, Hungarian manufacturing PMI fell significantly, and is now well into recession territory, details HERE.