Hungarian trade volume improves after lockdown plunge

Declines in Hungary’s exports and imports slowed in May after plunging during a lockdown to contain the spread of the coronavirus in April, and the trade balance returned to a surplus, data released by the Central Statistical Office (KSH) on Thursday show.

Declines in trade volume remained in the double digits in May but still showed improvement from April.

Exports fell by 28.9 percent to 6.758 billion euros and imports dropped by 25.5 percent to 6.602 billion euros.

In April, exports fell by more than 37 percent and imports dropped over 29 percent.

Hungary had a 155 million euro trade surplus in May, after a sizable 561 million euro deficit in April.

For the period January-May, Hungary’s exports fell by an annual 13.2 percent to 40.097 billion euros and imports dropped by 11.2 percent to 38.647 billion euros. The trade surplus for the period came to 1.449 billion euros.

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Source: MTI