Hungary’s balance of trade improving

Hungary posted a trade deficit of 188 million euros in December with the balance of trade improving by 110 million euros, the Central Statistical Office (KSH) said in a first reading of data on Monday.

In volume terms, exports fell by an annual 7.8 percent to 10.4 billion euros, while imports dropped by 8.6 percent to 10.5 billion euros, KSH said.

In a month-on-month comparison, exports dropped by 20 percent, while imports were down by 7.6 percent.

KSH said the negative turn was the result of a deteriorating energy balance on the import side and a decline in exports of the machinery industry.

Trade with other European Union member states accounted for 75 percent of Hungary’s exports and 66 percent of its imports during the month of December.

Read also:

• 5 and 10 forints coins will be withdrawn, HUF 50-100,000 banknotes will be issued in Hungary? – Read more HERE