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Hungary sells more, buys less from abroad

Hungary?s March foreign trade deficit totaled Ft 32 billion (Euro 131 million), according to the preliminary figures of the Central Statistics Office (KSH). Exports came to Ft 1,002 billion, up 4% year-on-year, while the value of imports reached Ft 1,034 billion, a 2% decline on the same month in 2004. EU countries remain Hungary?s main foreign trade partners, accounting for 77% of exports and 69% of imports.
The total Q1 deficit was Ft 147 billion (Euro 598 million), which is Ft 41 billion (Euro 120 million) less than a year earlier. The value of exports and imports totaled Ft 2,729 billion and Ft 2,876 billion, respectively, according to preliminary figures. In forint terms, exports are estimated to have grown by 3%, while the value of imports increased by 1% compared to the corresponding period of 2004. In Euro terms, the growth rate was 10% and 8%, respectively.