Hungarian GDP fell, but guest nights up in April

Hungary’s annual GDP fell 0.9 percent in the first quarter of 2023, the Central Statistical Office (KSH) confirmed in a second reading of data on Thursday.

Adjusted for seasonal and calendar year effects, GDP contracted by 1.1 percent.

Quarter on quarter, adjusted GDP edged down 0.3 percent, falling for the third quarter in a row.

For the full year, GDP growth reached 4.6 percent.

Guest nights at commercial accommodations in Hungary edged up by 1.2 percent to 2.9 million in April from the same period a year earlier, the Central Statistical Office (KSH) said on Thursday.

The number of guests grew by 6.7 percent, KSH said.

The number of guest nights spent by domestic travellers dropped by 6.0 percent.

Between January-March, the number of guest nights spent by domestic travellers dropped by 8.4 percent, while those spent by foreigners grew by 13 percent, KSH said.

Hungary posted a March trade surplus of EUR 886 million euros, the Central Statistical Office (KSH) said in a second reading of data on Thursday.

The surplus was revised downwards from EUR 899 million in the first reading released on May 9.

Exports rose by an annual 17.3 percent to EUR 14.216 billion, while imports increased by 3.1 percent to 13.330 billion.

Trade with other European Union member states accounted for 78 percent of Hungary’s exports and 68 percent of its imports during the month.