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The volume of Hungary’s gross domestic product (GDP) in the first quarter of 2025, stagnated according to raw data, while seasonally and calendar-adjusted and balanced data showed a 0.4 percent year-on-year decline, the Hungarian Central Statistical Office (KSH) revealed on Wednesday, based on its first estimate.
The economy’s performance, seasonally and calendar adjusted and balanced, decreased by 0.2 percent compared to the previous quarter. While GDP was positively affected by the combined performance of services, the economy’s performance was held back by industry and construction, KSH pointed out.
Quarterly volume change in GDP (compared to the same quarter of the previous year; without adjustment / adjusted for seasonal and calendar effects). Graph: KSH
The Statistical Office also released slightly more positive data on Wednesday, as the volume of exports and imports in March was up 5.0 percent and 6.4 percent compared with the same period of last year.
Assets amounted to €1.8 billion, with the balance improving by €173 million compared to a year earlier.
Compared with February 2025, however, the seasonally and working-day adjusted volume of exports decreased by 0.3 percent and that of imports increased by 2.1 percent. In March 2025, exports were worth 13.4 billion euros, and imports 11.6 billion euros.
In March this year, exports in euro terms increased by 8.5 percent and imports by 8.1 percent compared with a year earlier, while calendar-adjusted exports fell by 0.4 percent and imports rose by 2.0 percent.
The external trade balance improved by €173 million. The price level of external trade, measured in forints, increased by 4.5% in exports and by 2.7% in imports compared to the same month of the previous year. The exchange rate improved by 1.8%. The forint weakened by 1.1% against the euro and by 1.7% against the U.S. dollar.
Volume change in external trade by month (compared to the same month of the previous year). Import / Export. Graph: KSH
Exports to and imports from EU Member States increased by 3.2 and 3.9 percent respectively. The trade balance in goods deteriorated by €191 million, with a surplus of €1.6 billion. Exports accounted for 74 percent of total trade and imports for 72 percent. In trade with non-EU countries, the volume of exports increased by 18 percent and imports by 10 percent. The trade balance in goods improved by €364 million to a surplus of €152 million.
In January-March this year, exports were worth €37.6 billion and imports €33.7 billion. In January-March 2025, compared to a year earlier, the volume of exports increased by 1.4% and imports by 2.8%, while the trade balance improved by €30 million, with a surplus of €3.9 billion.
Via MTI, Featured image: Facebook/BMW Group Gyár Debrecen