Trade deficit amounts to EUR 611 mln in April
Image by Pixabay
In EUR terms, the value of exports decreased by 37% and that of imports by 28% in April 2020 compared to the same period of the previous year, according to data released by the Central Statistical Office (KSH).
Image by Pixabay
The trade balance deteriorated by EUR 840 million.
KSH notes that a significant fall was observed in both directions of external trade in goods compared to the same period of the preceding year, due to the effects of the coronavirus pandemic. The rate of decline in imports was lower than in exports, leading to a deterioration in the balance.
In April 2020, the value of exports amounted to EUR 5.628 billion and that of imports to EUR 6.239 bln.
The deficit on external trade in goods was EUR 611 million.
The share of EU-27 Member States was 75% in exports and 67% in imports.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.