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HEPA: Exports could reach EUR 120 bln in 2021

Trade

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Based on the performance of the first half of the year, this year's exports could approach EUR 120 billion, business daily Világgazdaság (Global Economy) reports, citing the Hungarian Export Development Agency. 

According to the report, a radical 33% improvement in the Hungarian product trade balance already took place in 2020 due to a larger decline in export and import values in the first half and then a rebound in the second half. 

In the first half of this year, the increase in the value of imports already slightly exceeded that of exports, but the surplus of the latter still offset this, so the trade balance was able to improve somewhat further. 

Based on half-yearly trade trends, HEPA said that exports could reach up to EUR 120 billion by the close of 2021.

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