Hungary’s trade balance posted a 244 million euro trade deficit in January, the Central Statistical Office (KSH) said in a second reading of data released on Friday.
Exports grew by an annual 16.5 percent to 10.414 billion euros, while imports increased by 33.4 percent to 10.657 billion.
Trade with other European Union member states accounted for 78 percent of exports and 71 percent of imports. Hungary’s government sector had a 3,736 billion forint deficit in 2021, equivalent to 6.8 percent of GDP, calculating with the European Union’s accrual-based accounting methodology, the Central Statistical Office (KSH) said in a preliminary release on Friday.
The deficit relative to GDP was a full percentage point under the gap in 2020.
Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) rose to 57.6 points in March from 53.8 in February, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Friday. A PMI over 50 signals expansion in the manufacturing sector.
Among the PMI sub-indices, the new orders index climbed from the previous month and remained over 50.