6 Articles
6 Articles
Exports virtually stagnated in August, while imports increased significantly. As a result, a foreign trade deficit not seen since 2023 was recorded in the month.
Foreign trade closed in August with a deficit of nearly half a billion euros, while the volume of imports increased by 13 percent. On the export side, the value increased, but the volume was slightly lower than a year earlier.
While export volumes essentially stagnated, imports jumped spectacularly in August. According to the latest data from the Central Statistical Office, Hungary's foreign trade balance closed with a deficit of 481 million euros, compared to a surplus of 659 million euros a year earlier. The balance thus deteriorated by 1.14 billion euros in a single year.
In August, foreign trade closed with a deficit of 481 million euros.
There was a significant increase in imports of machinery and transport equipment, but this was not followed by an expansion of exports. In the case of energy carriers, both imports and exports decreased, but exports to a much greater extent. The result is a stubbornly negative foreign trade balance.
Hungary's foreign trade deficit in August was nearly half a billion, or precisely 481 million euros, which represents a 1,140 million euro deterioration in the balance from the previous year. The deterioration was primarily driven by a 13 percent increase in imports, while the volume of exports decreased slightly. The balance in trade outside the EU deteriorated drastically, which was not offset by the strengthening of the forint.
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