C/a deficit continues to grow
Tuesday, March 29, 2005, 00:00
Hungary?s current account deficit totaled Euro 1.712 billion in Q4 2004. This is an improvement on the Euro 1.851 billion deficit in the previous quarter, however the gap has been widening year after year since 1995. The four-quarter deficit totaled Euro 7.123 billion in 2004, a considerable rise from 2003?s Euro 6.364 billion. The key factor behind the improvement from Q3 to Q4 was the trade of goods. Combined revenue from the trade of goods and services is on the rise, while Q4 also saw costs decline from the previous three months. The opposite trend prevailed in the service sector, with lower revenues and higher deficit.