Hungarian trade deficit over EUR 1 bn in Oct

Hungary had a 1.009 billion euro trade deficit in October, the Central Statistical Office (KSH) said in a first reading of data on Thursday.

The gap widened from 745 million euros in September, but narrowed from 1.580 billion in August, the largest in a series of consecutive monthly deficits running for more than a year, an anomaly for Hungary, an export-driven economy where trade surpluses are the norm.

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Exports rose by an annual 21.0 percent to 12.4 billion euros, while imports increased by 25.7 percent to 13.4 billion.

For the period January-October, Hungary’s exports increased by an annual 19.9 percent, while imports rose by 29.5 percent. The trade deficit reached 6.809 billion euros for the period.

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Source: MTI