Analysts said growing imports and the weaker trade balance were in large part due to growing domestic demand and skyrocketing energy prices.Continue reading
Hungary’s trade balance showed a 503 million euro deficit in March, the Central Statistical Office (KSH) said in a first reading of data released on Monday.
Hungary, an export-driven economy where trade surpluses are the norm, had a deficit for the ninth month in a row.
Exports rose by an annual 8.7 percent to 12.120 billion euros and imports climbed 22.6 percent to 12.623 billion euros.
Trade with other European Union member states accounted for 78 percent of exports and 72 percent of imports.
Featured photo by Tamás Kovács/MTI