Trade Deficit Continues for 11th Consecutive Month in May


Hungary had a trade deficit for the eleventh month in a row in May, according to a second reading of data released by the Central Statistical Office (KSH) this week.

Hungary, an export-driven economy where trade surpluses are the norm, had a EUR 95 million trade deficit for the month, according to the revised data. A first reading of the data, released on July 7, had shown a EUR 135 mln trade surplus. 

The revised data show exports rose 29.5% year-on-year to EUR 12.289 billion, while imports climbed 31.4% to EUR 12.384 bln. 

Trade with other European Union member states accounted for 76% of Hungary's exports and 69% of its imports. It had a EUR 728 mln trade surplus with other EU members. 

Hungary's terms of trade deteriorated 5.7% in May from the same month a year earlier as the forint weakened close to 9% to the euro and 25% against the dollar.

For the period January-May, Hungary's trade deficit reached EUR 1.687 bln. Exports rose 16.9% to EUR 57,413 bln and imports climbed 28.2% to EUR 59.118 bln.


Hungarians Want to Live to 96 Analysis

Hungarians Want to Live to 96

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Wizz Air Malta Names Managing Director Appointments

Wizz Air Malta Names Managing Director

2 Protests to Take Place in Budapest on Aug 20 City

2 Protests to Take Place in Budapest on Aug 20


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.