Hungary trade deficit EUR 408 m in June

Hungary had a 408 million euros trade deficit in June, the Central Statistical Office (KSH) said in a second reading of data released on Thursday.

Hungary, an export-driven economy where trade surpluses are the norm, had a trade deficit for the twelfth month in a row.

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The data show exports rose by an annual 14.6 percent to 12.039 billion euros, while imports increased by 25.0 percent to 12.447 billion euros.

Trade with other European Union member states accounted for 75 percent of Hungary’s exports and 69 percent of its imports.

For the period January-June, Hungary’s trade deficit reached 2.177 billion euros. Exports rose by 16.9 percent to 69.673 billion and imports climbed 27.9 percent to 71.851 billion euros